INDIANAPOLIS -- If you’re thinking about opening a new credit card at one of your favorite stores this holiday shopping season, you might want to think twice about the interest rate you could end up paying. According to Bankrate, at least 50 of the country's largest retailers jacked up the interest rates on their store-brand credit cards in the months before the federal reserve began cutting rates this year. It’s a move that protects their profit margin, but could cost you more if you carry a balance that you can't pay off every month.   This is especially dangerous for people who already struggle with credit card debt because most retail credit cards have lower standards for credit approval. According to Bankrate, the average retail credit card currently charges a record-high 30.45 percent APR. That’s up from:  28.93 percent in 2023 26.72 percent in 2022 24.35 percent in 2021 Most other credit cards are lingering in the 20% to 21% percent range since 2023. Here are the highest retail credit card interest rates rates Bankrate has found: Academy Sports + Outdoors Credit Card: 35.99% Big Lots Credit Card: 35.99% Burlington Credit Card: 35.99% Good Sam Rewards Credit Card: 35.99% Michaels Credit Card: 35.99% Petco Pay Credit Card: 35.99% Banter by Piercing Pagoda: 35.99% Athleta Rewards Mastercard: 34.99% Banana Republic Rewards Mastercard: 34.99% HSN Credit Card: 34.99% JCPenney Credit Card: 34.99% JCPenney Mastercard: 34.99% myWalgreens Credit Card: 34.99% Navyist Rewards Mastercard (Old Navy): 34.99% QVC QCard: 34.99% Real Rewards Credit Card (American Eagle and Aerie): 34.99% Real Rewards Visa (American Eagle and Aerie): 34.99% Tire Rack Credit Card: 34.99% TJX Rewards Credit Card: 34.99% TJX Rewards Platinum Mastercard: 34.99% Meanwhile, the Bankrate survey found other retail cards that are much more reasonable: Amazon Secured Card: 10.00% Military Star Card: 15.49% Costco Anywhere Visa by Citi: 20.49% Bass Pro Shops CLUB Card: 21.12% IKEA Projekt Credit Card: 21.99% IKEA Visa: 21.99% A lot of these cards offer cash back when you use them, which can be nice. However, that really only benefits you if you pay off the balance every month and avoid those high interest charges.  Experts also warn to watch out for deferred interest deals like 0% interest for 12 or 18 months.  If you don’t pay off the card within that time period, you can be charged retroactively for all the interest that would've accumulated from the very start.