Consumers are being warned that store cards do not offer a “quick fix” to their financial problems.

According to Credit Choices, increasing numbers of people are opting for store cards over credit cards.

The company quotes Debenhams chief executive Rob Templeman as saying that people are relying on store plastic as they are using their credit cards to pay for everyday bills.

It adds that over the past six months 1.8 million UK credit card holders have had their credit limit reduced, with thousands having their credit cards taken away from them completely.

However, Chris Eagle, commercial manager at Credit Choices, states that borrowing money on a store card is the most expensive way to do so, due to the high interest rates,

“Consider applying for and using an adverse credit card before relying on a store card,” he adds.

Meanwhile, according to a Fair Investment Company poll, zero balance transfers are the most popular credit card feature among consumers.