The rates of interest that these in store accounts use are eye wateringly high. Interest rates of 39.7% are not uncommon. Some people feel that the rate of interest on standard credit cards is too high at 17.0%.
People already get themselves into enough debt by overspending on credit cards and eating into their overdrafts. These store accounts are another way to bleed money from those foolish enough to keep spend beyond their means.
It is all very well that saying that people should be disciplined with their spending but the fact is that these stores take advantage of people who are quick to react to the call to arms to spend, spend, spend.