_______ of consumers with retail (store) charge card regret their decision to apply for this card. This may be explained by the fact that ___________ still have not paid back their charges from the 2018 holiday season. Questions: Have you (or someone you know) ever been asked when shopping at a store whether you wanted to open a store credit card? How does the cashier try and encourage the shopper to sign up? Why do you think so many cardholders regret their decision to apply for a store credit card? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Credit Card Insider): These trends show that despite the relative popularity of retail store credit cards, they may not be the best option for shoppers. Over four out of five retail store cardholders surveyed said they applied for a card in-store. With the discounts, sales, and signup bonuses cited as reasons from survey takers, these incentives may look appealing in the short term. However, if you can’t pay off your balance monthly, these store cards often charge interest at some of the highest APRs in the industry, canceling out any rewards value you earned quite quickly. There are benefits to store credit cards, but not if you plan to carry a balance month to month. —————- Our Behavioral Finance mini-unit has more examples of nudges like this can lead us astray financially.