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Convenient? Rewarding? Maybe so, but watch out or you may spend more than you bargained for.

Store Cards - Deal or No Deal? Page 2

Author: Dot Piper

You need to ask what the interest rate is on

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the card you're considering. Check exactly what interest rate you would be paying on an un-cleared balance. There may also be an interest free period. If this applies, how long does it last and you need to ask what the interest rate will be thereafter.

Payment Protection Insurance is an optional extra with most of these schemes. Cover varies and you will need to find out what benefits are on offer and to < Articles on car insurance >take into account what it's going to cost you.

Ask what penalties apply for default and late payment. ( Insurance minimarket ) Check all the details of the agreement carefully. Don't be pushed into a hasty decision. Take the agreement away, read it and then ask questions.

Always make the comparison between a store card and other forms of payment. Store cards and indeed credit cards generally can tempt you to overspend. Statements come in monthly and it can be really difficult to keep a record of spending, < Article on life insurance quotations > especially on multiple accounts. There's no problem at all if you can be really strict about paying off the full balance within the interest free period. Many people lack that discipline.

Store cards are regulated under the Consumer Credit Card Act. Rules are in force for any loan under £25,000. There is the likelihood that a complete review of the rules is to be carried out and this is under consideration.

Credit cards have become a way of life{ Insurance articles }. The market is very competitive and all are vying for your custom. Make sure you know the difference between a good deal and a bad one.