Store credit cards come with a catch

(UNDATED) - A store credit card with an instant discount can be tempting, but don't get trapped.

No matter what store you go to these days, you're asked if you'd like to open up a store credit card to save 10 percent on your purchase. But as the holiday season approaches, you'll be tempted with an even bigger discount.

The 10, 15 or 20 percent discount that comes with opening a store credit card, can be tempting. But consider the long-term effects of having that card in your wallet.

They typically have low credit limits, and they have high interest rates. Problem Solver Susan Hogan has everything you need to know about opening a store credit card.