It happens every time I check out. The cashier asks, “Do you want to save 20% by opening a store credit card?” A tempting offer, especially when the bill is high. But there’s a big reason to think twice: Opening new retail store credit cards can lower your credit score. 😱

When you apply, the store pulls your credit report, which puts a retail credit inquiry on it. If you’re approved, the new account gets added to your credit report, lowering the average age of your accounts and likely your credit score as well.

Unless you have strong credit, losing even 10 points can make it harder to get a loan from most lenders. Rather than guess about your credit score activity, use FREE Credit Monitoring from MoneyLion (it won’t affect your credit score) to see where your credit score stands today. Enroll for free.