OFT warns of store card danger

The campaign urges consumers to check out store cards terms and conditions before they sign the dotted line. Around 30% of UK adults have a store card, the OFT says. But of those, two in five do not pay off their balance every month, which effectively means they are incurring interest charges. To highlight the dangers of committing to a store card, the OFT has created a leaflet, entitled Are you store card smart?, which sets out the key questions consumers should be asking. They include: Check what the APR on the card is, especially if you don’t plan to pay off your balance ...