Store Cards News
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News : Topics : Store Cards A store card is a kind of credit card that is limited to use in a single shop or group of shops. They are usually marketed by offering a discount on your purchases at the shop, but the rates of interest are usually exceptionally high making this a false economy unless you clear your balance every month. Store cards have come in for quite a lot of criticism over the last few years, and are the subject of a Competition Commission inquiry. Most experts would advise against applying for a store card - almost any general purpose credit card is likely to offer a better deal. News Stories on Store Cards:New Rules on Store Cards - Competition Commission imposes new measures on expensive store cards (07/03/2006)Lack of Competition Makes Store Cards Too Expensive - Competition Commission provisionally rules that store card users are charged too much (15/09/2005) Commission's Concerns Over Store Cards - Competition Commission says the store cards market may be 'detrimental' to customers (12/01/2005) Store Cards : Staff Ignorant of Costs - A report shows that retail staff pushing store cards are ignorant of the costs involved (02/12/2004) Store Cards Inquiry - More Details - Competition Commission releases more details about its inquiry into store cards (22/09/2004) Store Cards Probe - Competition Commission to investigate the Store Card Industry (18/03/2004) Credit and Store Cards Criticised by MPs - Credit and store cards criticised by MPs for lack of transparency, and lack of standards in calculating APRs (18/12/2003) |
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