Britons owe £2.2 billion on store cards, with the number of accounts almost doubling to 1.34 million in the last 5 years. These figures are according to the Conservative party.
Approximately a third of the 27 most popular store cards still have annual percentage rates of more than a quarter, with some charging 29.9% or more. This is almost double the average.
Sarah Walford from local debt advisers REVIVAL, part of Cooper Parry LLP says” for those individuals struggling to meet their ongoing liabilities, please seek help sooner rather than later. The later you leave it, the more limited your options are.”