My store cards charged 30 per cent interest – so I got rid of them all
MOTHER-of-three Natasha Barr used to have a handful of store cards in her purse, but ditched all of them when she realised the eye-watering rates of interest she was being charged.
The 48-year-old finance assistant from Bournemouth in Dorset had store cards from New Look, Dorothy Perkins and Next until a few years ago – and was paying interest at rates approaching 30 per cent.
She says: ‘At the time, the cards seemed like a good idea as I got some big discounts on purchases
and was offered all sorts of rewards and benefits. But when I realised I was paying rates near to 30 per cent, I knew I had to get rid of them.’
It took Natasha almost a year to clear all her store cards. ‘It was not easy,’ she says. ‘But I was disciplined about paying down my debts and also moved some borrowings to interest-free credit cards.’