Retailers Criticised For Store Cards

Retailers are expected to be criticised this week by an Office of Fair Trading report on store cards. The report will suggest retailers push store cards aggressively to customers without properly explaining interest rates and charges Retailers' cards are notorious for charging interest rates of about 30 per cent when borrowers do not pay off bills in full each month. Stores use the cards to boost spending by offering discounts on purchases to those who sign up for a card.