Store cards are "probably the most expensive form of credit", it has been revealed.

The warning came from James Falla, managing director of debt counselling service Thomas Charles, who explained that the average APR on a store card is 29 per cent.

Mr Falla added that he knew how easy it was to get "sucked in" by the offers of ten per cent discounts when opening a store card, but urged borrowers to beware that unless they pay off the balance straight away, they could end up paying a lot more.

"My advice 100 per cent is don't take out a store card full stop," he said, adding that for those who do, "think very, very carefully about what you then intend to do regarding paying off the balance."

In relation to the credit crisis and its impact on the availability of store cards, Mr Falla claimed not to have seen any evidence of a change.

Statistics compiled by Credit Action reveal that UK debt grows by £1 million every five minutes.

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