IKEA and Marks & Spencer are just two of the stores named and shamed for increasing the interest rates on their store cards and plunging consumers into further debt.
The average interest on store cards has dropped by 0.7% from last year and now sits at 24.3%, yet some stores have opted to hike up their rates to improve profits.
Ed Bowsher from Fool.co.uk commented, "Store card-holders should be aware of the high interest rates which come hand in hand with introductory offers - and should remember that these cards are designed to make you spend, rather than help you save, money."