(NewsNation) — Holiday shopping is here.

A record number of people plan to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to an annual National Retail Federation survey. That’s around 183.4 million people, up from the previous record of 182 million in 2023.

57% of respondents said their main reason to shop during these five days is because “the deals are too good to pass up.”

Many consumers will use credit cards to pay for their holiday purchases, other surveys have found.

Nearly 3 in 10 survey participants said they used credit cards to pay for holiday gifts last year and still haven’t paid off their outstanding balances, according to a NerdWallet study.

Retailers offer store-specific credit cards, which shoppers at the check-out counter can sign up for on the spot.

The clerk may ask, “Would you like to save 10 to 20% on your purchase by signing up for a store credit card?”

The offer can be tempting, especially when the sticker shock of the total sets in.

So, should you open a store credit card for a one-time purchase?

Store credit cards for one-time purchases

According to NerdWallet, the offer is usually better for the issuer than the cardholder.

Interest rates for retail credit cards are generally higher than other credit cards. They also have a “lower-than-average” credit limit.

Some can be used at only the store that issued the credit, so you may find yourself shopping for unnecessary items and racking up debt you can’t pay.

Also, signing up for a new line of credit affects your credit score.

On the other hand, some retail cards offer long-term in-store discounts beyond the one-time savings upon signing up, which can be attractive to some consumers.

Plus, department store cards can be a way for people to improve their credit — as long as they make on-time payments in full.

“Just be sure not to sign up for cards at too many ‘favorite’ stores,” according to NerdWallet. “Having many credit accounts increases the risk of overspending if you use them, and the risk of identity theft if you don’t.”