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Store cards can be very convenient, offering discounts and rewards. Are they a good bet in the long run?

Store cards - are you storing up problems? Page 2

Author: Michael Challiner

There may be an interest free period. How long does this

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last and when it ends, what rate will be charged?

Payment Protection Insurance will be offered. Check how much this is going to cost and what benefits are offered. { life insurance, great articles } This is an option but could prove a blessing under some circumstances, such as illness or redundancy. Read the agreement carefully to find out more.

Remember that you'll need to budget carefully for ( life insurance shop ) store card purchases - it's easy to overspend.

You don't need to sign there and then. Take the agreement away and check everything, including the interest free period, APR, default and late payment penalties. Ask questions until you're satisfied you fully understand everything.

The Office of Fair Trading endorses the above advice. ( Car Insurance )They also advise that you compare the store card with other payment methods.

Don't be hassled into taking out a card you don't want by some pushy person who doesn't really care whether or not you're getting what's right for you, as long as they get their commission for signing you up!

Remember, as with credit cards, the statements come in monthly. Keep track of your spending. Credit cards with low APR's are, in general, ( cheap mortgages ) a better deal than store cards, according to the majority of financial experts.

Take care and weigh up all the options.