shocking Credit Card Rate 39%!!!

garethp_2

Take a look at this link, I can't beleive people would actually pay that amount of interest. Looks nearly as bad as a loan shark!

http://www.vanquis.co.uk/home/home.aspx?ref=DA&affid=Mediabrokers-300-250-bubbles-abacus

ad44downey

Capital One increased my interest to over 30% recently so they must be nearly as bad.

trevor_john

NNOOOOOOOOOOOOOOOOOOOOOOOO !!!!!!!!!!!!!!

Sorry Garethp but this has been discussed soooooooooooo many times there are loads of posts on it.

http://forums.moneysavingexpert.com/showthread.html?p=2155978#post2155978

tom188

Oh no...... Vanquis must be doing another mail shot.....

M_Thomson

garethp wrote: »

Take a look at this link, I can't beleive people would actually pay that amount of interest. Looks nearly as bad as a loan shark!

http://www.vanquis.co.uk/home/home.aspx?ref=DA&affid=Mediabrokers-300-250-bubbles-abacus

Yet another thread on this! These rates are high, but if you have a bad credit rating they can be a very good tool if you pay the card in full every month so you don't pay interest.

inmypocketnottheirs

Shock, horror....

MABLE

garethp wrote: »

Take a look at this link, I can't beleive people would actually pay that amount of interest. Looks nearly as bad as a loan shark!

http://www.vanquis.co.uk/home/home.aspx?ref=DA&affid=Mediabrokers-300-250-bubbles-abacus

Please note newbies this card has been well docmented in the past on this site. Again I will say you do not have to take extended credit on this card.
You could always pay the balance off each month. Sorry probably a silly thing to say.

inmypocketnottheirs

MABLE wrote: »

Please note newbies this card has been well docmented in the past on this site. Again I will say you do not have to take extended credit on this card.
You could always pay the balance off each month. Sorry probably a silly thing to say.

But sometimes the simple things need saying. Again. And again. And again!!

MABLE

inmypocketnottheirs wrote: »

But sometimes the simple things need saying. Again. And again. And again!!

Never has a truer word been said!

owensmum75

I have a Vanquis card to help with my credit rating. I make sure it's paid off every month in full so I don't pay interest. If 39% is too high for you Gareth no ones asking you to have one!

david_hellier

Monthly Credit Card Rates and Time Taken to

Payoff £$€1000* and the Interest Paid

Monthly% APR% Time Interest
1 12.68 11y 1m 470.93
1.1 14.03 11y 6m 544.93
1.2 15.38 12y 1m 627.18
1.3 16.76 12y 8m 718.86
1.4 18.15 13y 4m 821.88
1.5 19.56 14y 1m 938.45
1.6 20.98 15y 0m 1071.47
1.7 22.42 15y 11m 1224.44
1.8 23.87 17y 1m 1402.70
1.9 25.34 18y 5m 1612.80
2 26.82 20y 0m 1864.30
2.1 28.32 21y 11m 2170.94
2.2 29.84 24y 3m 2553.00
2.3 31.37 27y 4m 3043.14
2.4 32.92 31y 3m 3693.72
2.5 34.48 36y 10m 4602.18
2.6 36.07 45y 0m 5959.51
2.7 37.67 58y 6m 8211.90
2.8 39.29 85y 3m 12699.05
2.9 40.92 164y 5m 26099.39

*Assumes minimum payment of the higher of £$€5 or 3% per month