The most expensive credit card

alchemy0

Hi,

This is my first post, so please forgive (and advise) any breaches of etiquette.

Just wondered if I'd received the most expensive CC offer or if anyone can beat it.

T&C's are these:

Vanquis Visa Card
typical APR is 49.9% (but ranges from 32.9%-59.9% on purchases )
£19 annual fee
Starting credit limit of £250

Still, it gave me a laugh this morning when I opened my post.

Happy new year all.
Claire

Rafter

Claire,

Think you have found it too!

This card is from Provident Financial (a big listed UK company (FTSE 100 even?)) whose main business is doorstep lending.

The only one I've found which beats it is a prepay credit card where you pay them before you make a purchase and pay charges on top!

Might I suggest the Mailing Preference Service if you never get any decent offers through your letterbox!  Has killed 99% of my junk mail.

R.

alchemy0

Prepay credit cards seem to make no sense, what purpose do they serve? I'd rather have a savings account and carry the cash if I were that desperate.

I'm going to sign up to the Mail Preference Service, did the phones last month to stop the annoying cold calls (got them even though I'm ex-directory and am really careful about who I give my number to, although most companies don't have a box to tick for ex-directory or no calling, I even cancelled one of my credit cards when they wouldn't stop calling me with sales)

Just about to start my budget planning (scary prospect, as i'm expecting my first baby in March)

Claire

deemy2004

Prepay credit cards seem to make no sense, what purpose do they serve?  I'd rather have a savings account and carry the cash if I were that desperate.


Claire

They enable peopel with BAD credit buy stuff online etc....

Martinslovechild

Prepay credit cards seem to make no sense, what purpose do they serve?

A friend of mine with a very good job moved to the USA and couldn't get any credit because he had no history there - lots of history in the UK and NZ, but zero in the USA. So - he got one of these type of cards, which he paid off religiously for about 6 months before he was able to apply for 'decent' cards. Of course, he's now inundated with stuff coming through his letterbox.

It's probably the same in the UK though, either with people trying to rebuild their credit or people starting from scratch.

vanoonoo

article in todays press

http://money.guardian.co.uk/news_/story/0,1456,1411444,00.html

JasonW_2

"To find customers, Vanquis will trawl through the files of private credit rating agency Experian - it holds data on almost everyone in Britain - to identify individuals rejected by other lenders often because they have run into debt problems in the past."

I didnt know such practises were allowed!? :eek: Surely that would show up as another search on someones file!