Half A Million Store Credit Cards Opened Each Black Friday

MoneyTips

Despite many store credit cards failing to offer comparative benefits, a new study shows that, on average, half a million new accounts are opened every year on Black Friday. As shoppers cause chaos in the rush for holiday sales, many use store cards to buy holiday gifts on credit.

Using credit cards to buy large items can be beneficial, especially when taking sign-up perks and bonuses into account. Using a store credit card in the wrong way, though, can result in increasing debt and interest rates that are typically higher than bank credit cards.

After analysing the store credit card data for the past three years, Deutsche Bank c...

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