As the holiday season approaches, some gifts, might be worth turning down. 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. These cards typically have low credit limits, and high interest rates.

If you're looking to build credit history, a card that's accepted at just one store, may not be the way to go. Think twice before you open a card just for the discount, closing them immediately will drop the overall available credit that you have.

If you really want to take advantage, do research online and prepare for that offer before you step up to the register.