These credit cards have had 'increasingly notable' high rates, analyst says. What to know before you shop

The average annual percentage rate for retail credit cards reached 28.93%, a record, up from 26.72% last year, according to Bankrate.

"It's becoming way more common for many credit cards to have that as a possible standard rate," Schulz told CNBC in a previous interview. For holiday shoppers who may consider opening a retail credit card for holiday purchases, it can be smart to do so if a sizable discount is offered or if the purchase is something you or the gift recipient will benefit from in the long-term, said Bankrate's Rossman.

It's a "very sneaky" and common tactic on retail cards that's often buried in the fine print, added Rossman.Take your time when deciding whether to open a new line of credit — but don't make your mind up at the cash register.

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