Consumers should not turn to store cards to fund their festive purchases, an expert suggests.

Many store cards carry high rates of interest when compared with other forms of borrowing such as credit cards or secured loans.

Now Christmas shoppers are being warned that they could see their personal debt accumulate substantially by using the products.

Paul Davies, head of money research at Which?, comments: "We say as a general rule to ignore store cards, particularly if you're not going to pay the balance off each month.

"If you end up paying interest on them, some of the rates are in the high 20s."

For consumers who do find they have overspent on store cards - or wish to reduce the repayments on their credit cards or secured loans - there may be options available.

Debt consolidation loans typically combine all lending into one loan and can often reduce monthly repayments.ADNFCR-1287-ID-18388473-ADNFCR

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