Retail Credit Cards Interview with WSYR Radio Syracuse
CreditCards.com Senior Industry Analyst Matt Schulz spoke on Monday, October 19, 2015 with Jim Donovan of WSYR Radio Syracuse about the October 2015 Retail Credit Cards survey. The interview and transcript are below.
Jim Donovan: Central New Yorkers should use a little caution this holiday season when shopping to avoid getting stuck with a store credit card that they might soon be sorry that they have. Matt Schulz with CreditCards.com says that many people might not be aware how high the interest rates are on these cards.
Matt Schulz: The average retail credit card comes with an interest rate of 23.43%, which is really high considering that the average for all credit cards is about 15%.
Donovan: Schulz says if you’re the type to pay your balance in full every month, one of these cards could provide some benefits. Otherwise he says you should just say no.