(ABC 6 News) — We’ve all been there. Before you swipe your credit card to pay, you’re told you can save even more –sometimes up to 20% off your purchase if you open a store-branded credit card right now.

Should you take the plunge? Brian Vines at Consumer Reports says probably not.

“Generally, this is not a good idea,” Vines said. “Sure, those upfront savings can be very enticing, but if you don’t pay off that balance before a promotional period ends, you’ll pay a lot of interest.”

While the average credit card has an interest rate of around 20%, the interest rate for retail or co-branded credit cards is at an all-time high, at 30%.

And some are even higher! Credit cards from TJX, JCPenny, QVC and Walgreens are almost 35% – Burlington, Big Lots and Michael’s are almost 36%!

And we know that around half of Americans carry a balance month over month – along with paying more money, that can impact your credit score!!

So, is it ever a good time to consider signing up for a store credit card?

“If you shop at that store a lot and you’re vigilant about paying off your balance every month or before a promotion ends.”

Just be aware that many store-branded cards have low credit limits, so a big day of shopping for holiday gifts could max out the card.