“The best way to use any credit card is to pay in full each month so that you avoid interest. That’s especially true for retail cards.”

Bankrate senior industry analyst Ted Rossman commented on a new study from Bankrate, which surveyed the interest rates of 108 store cards from leading retailers in early September, and found they have reached a record high since Bankrate started tracking them in 2008. Read the CNN article, “Retail Credit Card Interest Rates Reach Record High.”