We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
A free £500 loan???
Correct me if I am wrong, but in theory shouldn't this work:
From Quidco, go to Finance > Loans > A&L
Click on the link to be taken to A&L loans.
Quote for a £500 loan over 12 months. At 17.9% APR this has repayments of £45.51 per month, a total of £546.12 repayable over the term.
Quidco offer to pay a £66 commission for a completed loan, covering the interest and actually providing almost £20 profit too.
I guess this is similar to stoozing with a credit card, but a simpler version.
Can anyone confirm this works???
From Quidco, go to Finance > Loans > A&L
Click on the link to be taken to A&L loans.
Quote for a £500 loan over 12 months. At 17.9% APR this has repayments of £45.51 per month, a total of £546.12 repayable over the term.
Quidco offer to pay a £66 commission for a completed loan, covering the interest and actually providing almost £20 profit too.
I guess this is similar to stoozing with a credit card, but a simpler version.
Can anyone confirm this works???
0
Comments
-
According to the A&L calculator it would be a 12 month free loan of £500 and nearly £20 + 12 months decreasing interest on the £500 profit.... the question is, is £20 really worth the hassle of going through a loan application and having more things on your credit report?All posts made are simply my own opinions and are neither professional advice nor the opinions of my employers
No Advertising or Links in Signatures by Site Rules - MSE Forum Team 20
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards