Store credit cards
Store credit cards can often be a handy source of credit for people, it has been noted.
Joe McShane, debt specialist at Citizens' Advice Bureau Cymru, made his comments to Wales on Sunday in recent days.
He explained people should be aware that some store credit cards will charge a higher rate of interest than their traditional counterparts.
The expert told the publication firms issuing such credit cards are required to observe certain standards, adding lenders should examine how capable a person is of paying back the funds they borrow.
"Anyone purchasing goods on a store card needs to be sure that they can service the debt they are accumulating," Mr McShane concluded.
Marks and Spencer states its M&S Chargecard can be used to shop either in its stores or online.
It charges no annual fee and offers a typical 23.9 per cent APR variable, as well as up to 55 days interest-free credit if consumers pay their balance in full by the monthly due date.
Written by David Jones
Written by Charlotte Stevens ©
