Worst APR% rate?

Dave_Taylor

Just spotted this ad on my facebook account - offering a card for 39.9%APR :eek:.
I can't believe anyone would apply for this.

So is 39.9% the worst rate? or does anyone else know a worst one?

http://www.mycreditcardguide.co.uk/poor-hist-card-f-25.htm

sazzyb

not quite on the same lines...but just for laughs...my OH once saw one of those instant cheque cashing shops with a sign outside offering loans for 129.9% APR!! He took a pic to prove it to me cos i didn't believe him - i thought even for one of these shops, that was mighty high!!

Paul_Herring

Vanquis.

Payday loans.

adrianelliott

Maybe I'm cheating here, but Natwest black card has a 51.8% rate due to the £250 annual fee http://www.natwestblack.com/summarybox.ashx.

$"£!$&^*"$!&*(

Dave_Taylor wrote: »

I can't believe anyone would apply for this

You should. For many people this is the only option.

Many people get one of these, use it well and end up with lower rates or better cards.

withabix

adrianelliott wrote: »

Maybe I'm cheating here, but Natwest black card has a 51.8% rate due to the £250 annual fee http://www.natwestblack.com/summarybox.ashx.

Damn, you beat me....The BA Amex is only 43.5% APR (£150 fee).

People get that one for a reason though....;)

Paul_Herring

nathanp wrote: »

You should.

What, apply or believe?

GreyPilgrim

Just try googling "payday loans" and see what you come back with.

Don't be too shocked to see APR's in the 1000's of percentages.

http://www.moneysupermarket.com/payday-loans/

GreyPilgrim

GreyPilgrim wrote: »

Just try googling "payday loans" and see what you come back with.

Don't be too shocked to see APR's in the 1000's of percentages.

http://www.moneysupermarket.com/payday-loans/

True, not quite credit cards as such. But it's the timespan that makes the APR of course, not just the amount.