Debt Warning Over Store Cards
21st December 2011
... Comments

Article by Griffin & King

Millions of consumers face years of debts from “Dangerous Borrowing Rate” and hidden charges on store cards, Which? Money has warned.


The consumer group have found shoppers often face fees for not using their cards as well as for having their account that is in credit. Approximately 13 Million Britons hold store cards from some of the biggest retail chains including M&S, Argos and Debenhams. The cards have interest rates of up to 30% which is 60 times the bank of England’s base rate of .5%.


Tim Corfield, the Managing Director of Griffin & King commented that cards should be used very carefully. “You need to clear the balance in full each month or you will pay a lot more for the items than their original costs”.

You can contact Griffin & King by calling 01922 430816 or click here to read more about them.

About the Author

Alex M

Member since: 10th July 2012

My name is Alex Murray. I am passionate about what goes on in and around Walsall. I hope you find my blog to be interesting and thought provoking. Please feel free to give me your feedback.

Popular Categories