The cost of store credit cards is still "shocking", new research has found.
According to a study by financial website Fool.co.uk, the interest rate on some store credit cards has increased by as much as seven per cent.
This is despite the fact regulations were introduced by the Competition Commission last year in order to govern the administration and promotion of such credit cards.
Ed Bowsher, savings expert at Fool.co.uk, said: "Store card-holders should be aware of the high interest rates which come hand in hand with introductory offers - and should remember that these cards are designed to make you spend, rather than help you save, money ."
Anyone with an outstanding balance on such a product should consider transferring it to a credit card that offers a zero per cent introductory period, he added.
Last week, Moneyfacts.co.uk revealed that the fees on more than 30 credit cards have increased recently, making borrowing on them potentially more expensive.
News Side
Store cards shocking, research shows
Mon, 09 Jun 2008
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