Friday 21 July 2017

How to shelve the store card

Transfer your balance Most credit cards will take a store card-balance transfer, so look out for a good 0 per cent APR introductory deal and switch.

Consider HP In this climate, more and more retailers are offering hire purchase deals for little or no interest, a cheaper way to get goods upfront than a store card.

Take out a loan Credit union loan rates start at 9.5 per cent (you need to have savings with them to borrow). Bank loan rates are around 12.5 per cent variable interest.

Be strong If you were press ganged at the till to take a store card, you still have 10 days to cancel it -- but watch out. The terms and conditions often include an option to waive your legal right to this cooling-off period.

Sunday Independent

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