If you're among those consumers who start the New Year with a debt hangover from holiday purchases, now's the time to take those retail credit cards out of your wallet.
"Retail store credit cards have always been more expensive than your average credit card, and they're only getting more and more expensive," said Matt Schulz, senior industry analyst at CreditCards.com.
A new analysis from the site found that the average retail card carries a rate of 23.84 percent, versus an average 15.22 percent for all credit cards. The card with the highest rate in the study was Big Lots, at 29.99 percent.
(CreditCards.com assessed 68 store-branded cards for the study, including all of those on offer from the 100 largest retailers by 2015 sales.)
"That is basically the penalty rate for most general-purpose credit cards," Schulz said.