Watchdog calls for store card 'wealth warning'

Britain's retailers could be forced to display a "wealth warning" on their store cards, alerting consumers to the extortionate rates of interest they charge, according to proposals from the Competition Commission.

Publishing its provisional findings and recommendations yesterday after an 18-month inquiry into the sector, the Commission criticised retailers for not providing adequate information to consumers, saying a lack of competitive pressure in the market had left consumers at risk.