Store card shoppers 'pay more'

By John Swindells 08 Dec 2007 | Comment
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http://news.bbc.co.uk/go/rss/-/1/hi/business/7133979.stm
Store card shoppers pay an average of 62% more interest than those using credit cards, a study suggests.

People are frequently encouraged to apply for a store card in-store, in exchange for a discount on their first purchase. Some will forget to clear the balance on that card, and start racking up large interest charges. The interest charges probably earn the shops a healthy amount, easily negating the initial discount that they offered.

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