For some consumers, store credit cards can offer a mixed bag when it comes to debt management.

Leslie McFadden of bankrate.com writes in a recent CNBC column that even if customers can save a quick 20 percent on the purchase they are making that day, "a new account impacts your credit score and opens up another avenue to debt."

Still, there can be some positives that come with store credit cards. For example, repeat customers can often receive discounts and other rewards from a given store.

However, Fatima Mehdikarimi of ShoppingQueen.com reminds McFadden that oftentimes, customers don't need a store card to simply join a mailing list and receive discount coupons and special sale notices anyhow.

Another positive about store credit cards is that they tend to give people an opportunity to build up their credit history, especially in the case of co-branded cards that can be used anywhere and which occasional offer perks like frequent flier miles.

One of the biggest drawbacks cited with store credit cards is their high interest rates, which are generally well into the 20 percent range. McFadden also urges consumers to be fully aware of the effect opening a new account, even one with a low credit limit, can have on your credit rating.

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