Watchdog slaps warnings on drastic plastic credit charges
‘STORE cards charging customers more than 25% for credit will have to warn shoppers that cheaper rates are available elsewhere after a ruling by the Competition Commission.
The watchdog’s investigation into store card interest rates and sales practices, which began last year, heard evidence that more than 80% of all store cards in circulation - 61 from well-known high street stores - had an interest rate of more than 25%.’
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