I just got a new credit card at a 65% interest rate! - GoFuckYourself.com

Jedimaster · 06-12-2004, 06:01 AM

Credit at interest of 65%

By LYNDSEY WEATHERALL
A DOOR-to-door loan company is offering struggling families a credit card with a whopping APR of 65 PER CENT.

Provident Financial is urging people with a history of debt and poor credit rating to take out its Vanquis card.

Someone with the minimum £100 credit limit would face a 65 per cent interest rate.

If the limit is £1,000 the APR is 31 per cent.

Many mainstream credit cards offer introductory rates on balance transfers of zero per cent followed by APR around 15 per cent.

Bradford-based Provident Financial has 1.5million customers and earns £82million a year.

It has been criticised for its high-interest loans and doorstep collections.

In 2002, boss Robin Ashton was paid £408,000.

Last night MP Norman Lamb, who sits on the Treasury Select Committee, slammed the company for encouraging further debt.

Mr Lamb said the interest was ?outrageous and excessive? and urged the Office for Fair Trading to monitor it. He said: ?The rate is staggeringly high.?

But a company spokesman said: ?We want to bring the benefits of credit cards to people who may have been excluded in the past.?

The firm says the Vanquis card will have strict limits based on a client?s ability.

"doorstep collections" I can't wait to meet that guy

goBigtime · 06-12-2004, 06:04 AM

Hmmmmmmmm.

Bill collectors at your doorstep.. is that legal in the states?

jm_247live · 06-12-2004, 06:18 AM

Thats crazy

pornstar2pac · 06-12-2004, 06:23 AM

your lucky. I got a $10,000 loan from Rocco down the street and he charges 10% a week

Rankings · 06-12-2004, 06:40 AM

the poor get poorer and the rich get richer

06-12-2004, 06:01 AM	#1
Jedimaster Registered User Join Date: Dec 2003 Posts: 2,120	I just got a new credit card at a 65% interest rate! Credit at interest of 65% By LYNDSEY WEATHERALL A DOOR-to-door loan company is offering struggling families a credit card with a whopping APR of 65 PER CENT. Provident Financial is urging people with a history of debt and poor credit rating to take out its Vanquis card. Someone with the minimum £100 credit limit would face a 65 per cent interest rate. If the limit is £1,000 the APR is 31 per cent. Many mainstream credit cards offer introductory rates on balance transfers of zero per cent followed by APR around 15 per cent. Bradford-based Provident Financial has 1.5million customers and earns £82million a year. It has been criticised for its high-interest loans and doorstep collections. In 2002, boss Robin Ashton was paid £408,000. Last night MP Norman Lamb, who sits on the Treasury Select Committee, slammed the company for encouraging further debt. Mr Lamb said the interest was ?outrageous and excessive? and urged the Office for Fair Trading to monitor it. He said: ?The rate is staggeringly high.? But a company spokesman said: ?We want to bring the benefits of credit cards to people who may have been excluded in the past.? The firm says the Vanquis card will have strict limits based on a client?s ability. "doorstep collections" I can't wait to meet that guy

06-12-2004, 06:18 AM	#3
jm_247live Confirmed User Join Date: Feb 2004 Location: florida/philly Posts: 1,536	Thats crazy __________________ ICQ 280987151 [email protected]

06-12-2004, 06:23 AM	#4
pornstar2pac Omaha Hi/Lo Join Date: Nov 2003 Posts: 17,380	your lucky. I got a $10,000 loan from Rocco down the street and he charges 10% a week __________________ Trump haters gonna hate. that's all they can do

06-12-2004, 06:40 AM	#5
Rankings Adult SEO Industry Role: Join Date: Jan 2004 Location: A cat with three legs cannot bury shit in a frozen pond. In addition to that, can you cry underwater? Posts: 10,633	the poor get poorer and the rich get richer __________________ Your leader for Adult SEO Services 19+ Years Serving the Adult/SEO Industry ICQ: 610-814 Skype: xratedseo

06-12-2004, 06:04 AM	#2
goBigtime Confirmed User Join Date: Nov 2002 Posts: 7,761	Hmmmmmmmm. Bill collectors at your doorstep.. is that legal in the states?