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Bank Charges: Britons warned of store card fees and clauses

UK consumers have been warned to check the applicable fees and clauses associated with store cards before taking one out.

Joanna Parsley, associate director of Credit Action, expressed her belief that store cards are a big temptation for many Britons.

"Signing up in store means for many consumers that reading the small print is a low priority," she said.

"We would always urge consumers thinking of taking out a store card to make sure they know of any other fees or clauses that might impact on them down the line."

Earlier this week, Spanish bank Santander, which handles store cards for major retailers such as House of Fraser, Debenhams and Laura Ashley, announced it was making changes to customer's terms and conditions.

Customers at the aforementioned stores will face a £10 fee if the card is not used for six months, while the new clauses will also affect when customers can cancel their card.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800294164-ADNFCR

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