New regime for instant in store credit

February 21, 2010

The Credit Card Act 2009 saw one of the problems with credit cards was that they did not take adequate care in deciding who could afford to take credit.  This meant that an idea was floated to check that borrowers had adequate income.  This is now under threat.

Store cards have the advantage that they can be very quick and easy to obtain.  They are offered within the shop itself rather than online or through the post as is common with credit cards.  It is not necessary to wait between the application for the credit card and getting the credit card itself.  A common way in which store cards are offered is when a customer is buying the goods, and if they are willing to get the store card at the point of sale this means that they will be eligible for an instant saving on the card. read more…

Store credit cards

December 17, 2009

Store cards are some of the more profitable cards on the market, for card providers.  This is because they are very convenient to take on and it is quite inconvenient to compare them with other cards when signing up.

Store cards tend to be very convenient to obtain as they are offered in the store and not by post or online as most other credit cards are.  There is no wait between applying for and receiving the card.  It is often the case that an existing customer is offered a store card when waiting to pay for purchases, and by taking the store card they get an instant discount.  However as a result of this store cards tend to be some of the more expensive cards with less favorable conditions and higher interest rates. read more…