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Rip off credit card - 49% APR !

 
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Author Message
iceman
Junior Saver
Junior Saver


Joined: 30 Jul 2004
Posts: 60

Cash Points ££ 275.20
PostPosted: Thu Mar 10, 2005 9:28 pm    Post subject: Rip off credit card - 49% APR ! Reply with quote
Got an offer in the post today ! Its a Vanquis card and carries a 49.9% typical APR ! Wait it gets WORSE ! For this they want an annual fee of £19 !


This is a pure and simple rip off card - Rest assured I vanquished Vanquis to the bin !

Can anyone top a card with a 49.9% APR ?
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Author Message
cardjunkie
Professional Investor
Professional Investor


Joined: 24 Jul 2004
Posts: 311

Cash Points ££ 2248.20
PostPosted: Thu Mar 10, 2005 10:20 pm    Post subject: Reply with quote
There is a use for these types of cards, since they are geared towards the higher risk customers. I.e. those with no or bad credit histories, thus people can use these types of cards to build up a good credit history.
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Author Message
Neo
Saving Enthusiast
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Joined: 24 Oct 2004
Posts: 147

Cash Points ££ 595.04
PostPosted: Thu Mar 10, 2005 11:27 pm    Post subject: Reply with quote
cardjunkie wrote:
There is a use for these types of cards, since they are geared towards the higher risk customers. I.e. those with no or bad credit histories, thus people can use these types of cards to build up a good credit history.


Exactly ! Another typical card is the Capital One Classic which weighs in with a 29.9% APR

Useful for those with bad histories or no history to improve on their credit records.
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