What oh what is the point of store cards? Next time the shop assistant asks if you'd like one, just offer to have the letters m-u-g tattooed on your forehead at the same time. Because their interest rates are so astronomical they really should be morally outlawed. Some charge as much as 30% interest.

People in the UK are expected to dole out an average of £863 each this Christmas.

If they whack this on a store card the interest alone will be at least £179 during 2008, if they make only the minimum repayments each month. On a credit card (the lesser of the evils) they would face an interest bill of £123 - again making only the minimum repayments.

Some shoppers might argue that the store card is the only way they can treat a loved one with that special gift this Christmas. Who do you know that cares for you so little they'd want you to go into this much debt for them?