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What is the highest APR you have ever come across on a card?
1984ReturnsForReal_2
Posts: 15,431 Forumite
in Credit cards
Mine is 39.9% APR on Vanquis. I saw an advert today...
I thought anything above 27.9% was illegal in the UK!!!
(shows you how much I know!)
I thought anything above 27.9% was illegal in the UK!!!
(shows you how much I know!)
Not Again
0
Comments
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No it's not illegal.
And we've had examples of 60% plus before."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
I have a Vanquis card @ 59.9%Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
6 credit accounts closed in 2010!
Official SOS Club number 001 - Dry until 01.07.100 -
vanquis @ 45% i think, thats why i went for cap 1, at 39.9 (building rating).0
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I think the law is not specific.
It is not like the 70 mph spped limit.
The rate of interest must not be extortionate................................I have put my clock back....... Kcolc ym0 -
I think that Provident and some doorstep lenders can charge over 1000% APR :eek:
And this is completely legal provided they are registered lenders. There is no upper cap on APR enforced by law.0 -
Several years ago I enjoyed having a conversation with someone at the head office of a high street bank.
I was discussing with him my contention that in a particular situation the bank would be charging a million per cent APR.
I will not bore you with the details but it related to being 1p overdrawn where the penalty for an unauthorised overdraft was £30 pounds even if it was only for one day................................I have put my clock back....... Kcolc ym0 -
Yeah I think I got a letter from Provident at 189.9% - I thought they had put the decimal point in the wrong place until I realised it was true!0
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Megalomaniac wrote: »Yeah I think I got a letter from Provident at 189.9% - I thought they had put the decimal point in the wrong place until I realised it was true!
Whatsmore some of the lenders who issue loans with APRs into 3 or 4 figures do not sell bad debts to DCA's. They simply send a representative around who threatens to break your knee caps unless you pay up. :eek:
Avoid at all costs.0
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