Great Champagne 'highest Apr' Credit Card Hunt!
MSE_Martin
Posts: 8,272
Money Saving Expert
in Credit cards
OK not so much a what's best but what's worst hunt. What's the highest APR leaflet trying to flog you a credit card you've found. Vanquis is 49.9% but there are higher.
Champagne rules. To get the champagne you must first post on here the APR for the UK card in question and you must have a leaflet that you can send in (but only if you're the winner, we'll ask you for it). I'll send you the bubbly. If more than one person says the same card, the first to post (who has a leaflet) will win.
What if I don't have a leaflet? Please do still tell us what the highest you've seen is. However for obvious reasons i can't send you the champagne or everyone would just put 1,002,2033% interest
Champagne rules. To get the champagne you must first post on here the APR for the UK card in question and you must have a leaflet that you can send in (but only if you're the winner, we'll ask you for it). I'll send you the bubbly. If more than one person says the same card, the first to post (who has a leaflet) will win.
What if I don't have a leaflet? Please do still tell us what the highest you've seen is. However for obvious reasons i can't send you the champagne or everyone would just put 1,002,2033% interest
Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
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Comments
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Its not a leaflet... but Provident (owner of Vanquis I beleive), does loans which it gives to its customers on a visa electron card (okay, technically not a credit card... but this is credit on a card! ).Loan amount: £290
55 Weekly repayments of: £8.70
Total amount payable: £478.50
Typical APR: 177.0%
Of course, that is a cheap APR apparently :rolleyes:
If you borrowed the same amount over 23 weeks, according to its website:Loan Amount: £290
23 Weekly Repayments of: £18.56
Total Amount Payable: £426.88
Typical APR: 497.4%
A whopping 497.4% !! :eek: :eek: :eek:
http://www.providentpersonalcredit.com/loancalculator.php0 -
Provident Finance do a 69.9% card I believe.....Nice to save.0
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oops... that is the Vanquis I think... or the same company... hmm...Nice to save.0
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Hi
I got a leaflet from Vanquis the other day offering me a typical APR of 59% and an annual fee of £19, shocking.
Cheers
Simon0 -
They also had an advert in Januarys Soldier magazine aimed at older people at 110%...Nice to save.0
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... trouble is, I had the magazine through the post from the British Legion and have probably chucked it. So nows someones chance to dig out that magazine and grab themselves a bottle of champers... (unless I can get to the legion and dig out an old copy before you lot! hehe)
Munki.Nice to save.0 -
It's on their web site: http://www.natwestblack.com/natwestblack/common/summarybox.asp
50.7% APR.
However, this is a bit of an unfair reflection on their interest charges - see their statement.0 -
53.9% APR
http://www.couttsworld.co.uk/fees.asp
Same as the NatWest black card, it's the charge which makes it look so bad.0 -
I can't beat 497.4% but I do have the leaflet (had to go and dig it out the bin) and it is a credit card. Oh! and yes it's from Vanquis again!
32.9% to 59.9% variable on purchases
Credit limit up to £2000 - typical credit limit of £250!
All this for an annual fee of £19!
The leaflet also says they are regulated by the Financial Services Authority.
Can anyone tell me what is the point of the Financial Services Authority when they let banks offer deals like this?0 -
Balestra wrote:Can anyone tell me what is the point of the Financial Services Authority when they let banks offer deals like this?
I do not justify high interest rates, but I think the only problem here is that borrower must have clear understanding of the deal from the very beginning. Then it is up to the borrower to decide whether to take the deal or to leave it.0
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