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Credit cards glossary

Store Card

A store card is a credit card that is linked to a specific shop or shops that are members of a single group.

They are sometimes referred to as "private label" cards or "proprietary cards", and often offer incentives to consumers, such as a ten per cent discount on initial purchases.

However, when compared with a standard credit card, store cards have been criticised for charging rates of interest and penalty fees (such as for late payment) that are higher than on other credit cards.

There has also been criticism of the sales practices of shops, which some see as designed to pressure consumers into signing-up to cards without all the information.

The Office of Fair Trading has produced an are you store card smart guide for consumers, including tips and pocket guide to store cards.


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