I had a pretty amusing—but all too common—experience at the mall last weekend.

While shopping at a nationwide retailer (whose identity I will not disclose, but it could really be any of them), I found a shirt that had that elusive combination: 1) It looked really cute on me, 2) It would be appropriate to wear for both school  and work, and 3) It was on sale! This shirt that normally retails for $58 was marked down to $29.99. I was still grinning about my good fortune as I brought it up to the register.

As the saleswoman behind the counter scanned my treasure, she asked me, "Would you like to save 10% today by opening up a [Store Name] credit card?" I stifled a laugh and politely declined .

On top of the fact that this special discount would only save me $2.99, I thought about the possible damage it could do to my credit score. A credit score is a number used by a variety of people and institutions (banks, landlords, utility companies, etc.) to determine the likelihood that you will make payments as promised. It's a complicated equation that is constantly being updated and that your actions directly influence. To learn more, check out www.whatsmyscore.org .

So what does my situation at the mall have to do with my credit score? Every time you apply for or open up a new credit card account, an inquiry is made into your credit history. Too many inquiries or too many credit card accounts could lower your credit score—which could mean getting charged higher interest rates or even being turned down for credit in the future. I hardly thought the $3 I could save today would be worth the damage to my credit score and possible extra interest I could be charged in the future.

It's tough to resist this temptation, especially when your purchases are bigger and that discount begins to seem more appealing. Just be sure to factor in all the costs before you decide to fill out that application.

Do you have experience opening up (or resisting) retail credit cards? If so, share your story here!