Consumers need to think responsibly about their purchases when using credit cards, personal loans and overdrafts to buy items, according to Sainsbury's Bank.
The company's head of loans, Steve Baillie, has stated that consumers should consider the value and life-span of a product against the amount they are planning to pay for it in an effort to decide if it is worth it.
He added that it is important that consumers assess which option, out of personal loans, credit cards and overdrafts, is most suited to their needs.
"Overdrafts have a purpose, credit cards have a purpose and so do personal loans. It's [about] making sure that the customer is using it for the right purpose," he explained.
Mr Baillie added: "The last thing I want is customers getting into debt and not having anything to show for it."
The first major UK supermarket chain to open a financial services division, Sainsbury's offers advice on a range of products including credit cards, savings accounts and loans.
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