Store Cards
Shops and other retail businesses sometimes offer Store Cards which are a form of credit card. Such cards will allow you to make purchases at their store on a credit account created by them for you. You will then be allowed to take goods home on the day of purchase and pay for them at your leisure. Cards are normally applied for at the point of sale and the application and credit check process can take as little as 10 minutes. Many people sign up to Store Cards due to introductory offers such as money off your initial purchase and free gifts.
It should be noted, however, that Store Cards often carry with them extremely high levels of interest. You must be sure to check out the interest rate on Store Cards before you agree to accept one- many people neglect to look into this area with sufficient attention. It is estimated that most Store Cards have an average APR of around 25-30% which is much higher than a normal credit card and so it may be cheaper in the long run to purchase goods on your normal credit card rather than taking out a Store Card.
Many people though have success with Store Cards as they open them for the introductory offer and then pay the balance off in full as soon as the statement arrives therefore incurring no interest or extra charges. Store Cards can also carry with them other benefits such as private viewings, discount vouchers, magazines to your door, protection on items purchased and then reduced in the sale and discount days for Store Card holders.
