Bad credit rating and high interest cards

Tixy

bozzels wrote: »

Interestingly after a search on moneysupermarket 2 days ago to see what credit cards were available to me, my score came up as very low for most cards, when I looked on loans my score was much higher - but so was the APR. I immediately had a call from a loan company offering me £3k over 3yrs to consolidate everything. But I would have ended up paying £1500 for the privelege which I recon works out a lot more than the interest I'll get on these cards.

Good decision not to go for a loan. Generally when someone phones up to offer you a loan, rather that you actually make a loan application to them - its a loan broker. They usually try to get your bank details from you, whip a fee out of your bank accountand then try to find you a loan from a lender. Often the people who cannot get mainstream credit are the ones that end up using loan brokers and then they only potential lenders they find are guarantor loans and payday loans.