NatWest Loan - APR different than advertised

groovedolphin

Right.

And as far as I can tell, the reason for that is relatively simple. Feel free to correct me, but it's this: extending a large quantity of debt to someone who already has a large quantity of debt is a really dumb idea. They might end up so far in debt that they can't make the payments.

The thing is - I don't actually want to extend my debt. I only want to refinance the debt I have - to make it easier, not harder, to make the payments (actually to get it off my back quicker). There ought to be some way to represent that, to make it binding that you'll hand in the credit card when you pay it off.

I am, fortunately, in a position where I can pay a fair bit more than the minimum payment, to answer Tixy's question.

Thanks again for the replies.

CLAPTON

groovedolphin wrote: »

Right.

And as far as I can tell, the reason for that is relatively simple. Feel free to correct me, but it's this: extending a large quantity of debt to someone who already has a large quantity of debt is a really dumb idea. They might end up so far in debt that they can't make the payments.

The thing is - I don't actually want to extend my debt. I only want to refinance the debt I have - to make it easier, not harder, to make the payments (actually to get it off my back quicker). There ought to be some way to represent that, to make it binding that you'll hand in the credit card when you pay it off.

I am, fortunately, in a position where I can pay a fair bit more than the minimum payment, to answer Tixy's question.

Thanks again for the replies.

in our liberal democracy there is no real way of 'fobidding' people to take out further credit even if they say they won't;

the way it's done is by looking at your credit history and making judgements on past behaviour.