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How to Manage Store Card Debt in the UK: A Step-by-Step Guide
Understanding Store Cards: How They Compare to Credit Cards
You might have heard the myth: “If you miss store card payments, your purchases will be repossessed.”
This is false.
Store cards function almost identically to credit cards in the UK. They’re unsecured debts, meaning no physical asset (like your purchases) is tied to the agreement.
Key Takeaway: Treat store cards the same way you would treat credit cards.
Store Cards as Unsecured Debt: What You Need to Know
Store cards fall under the same category as credit cards, personal loans, and overdrafts, meaning they are unsecured debts.
You can find all you need to know about unsecured debt here.