Fool.co.uk comments on alert for UK store card customers
Added: (Tue May 01 2007)
Pressbox (Press Release) -
Following news that UK store card customers will now be told on their statements if they can get a better deal elsewhere, David Kuo, Head of Personal Finance at Fool.co.uk, says:
�This is a welcome move for consumers - the big stores have been milking unacceptably high interest rates for too long now.
�However, more can still be done to ensure that the horse is put before the cart and not, as it stands, the other way around. Consumers do need to be warned of what they are signing up for at the time of applying for a store card � it�s too late after they have incurred debts that they can�t afford.
�Although we can get serious financial headaches if we misuse store cards, they do suffer from bad publicity, and outfoxing the fox can be rewarding if we use store cards sensibly.
�A sensible way is to pay off balances on our cards in full, which means all the benefits and none of the downside whatever the interest rates charged.�
-ENDS-
For further information and/or to arrange an interview with David Kuo, please contact:
Sonia Rehill
PR Manager
Fool.co.uk
DD: 020 7297 8159
soniar@fool.co.uk
About Fool.co.uk
Fool.co.uk is an independent, award-winning personal finance site that provides expert financial tips, community-generated guidance and financial product comparison.
In a world full of over-complicated jargon and dubious motives, Fool.co.uk is determined to tell the truth about finance in words everyone can understand. Launched in 1997, it has over 2.5 million members and around 500,000 site visitors a month.
Fool.co.uk is dedicated to empowering a community of financially literate individuals. Whether users are sharing ideas on the discussion boards, plotting their path to financial freedom with guides and articles, or finding and applying for financial products that best suit their needs, each is a valuable part of the intelligence revolution.
It�s about connecting people to the information and solutions they need � full-circle finance, if you like.