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Website issues store card warning

Store cards from retailers Karen Millen, Oasis and Principles have been put up by as much as 4.3 per cent, said yesterday.According to the financial website, customers with these cards are now facing APRs of 29.8 per cent on all their purchases.The hikes also come in the run-up to the big Christmas spend - the busiest time of the year for retailers.Inflation is also at a 16-year high, with the Consumer Price Index standing at 4.7 per cent.This means that shoppers will get much less for their money this year.Michelle Slade, an analyst at, said: "As everyone feels the pinch, many customers may be tempted by the offer of a discount on their first purchases. However, this could end up costing customers hundreds in additional interest."By also cutting the minimum repayment required, some customers may think it a good opportunity to reduce their monthly outgoings, but in the long run they will end up paying much more in additional interest."

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