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Are 118118 loans classed as payday loans?
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 7,175 Forumite
in Loans
I've had a 118118 credit card for a while and this week I've received both an email and SMS offering me a pre-approved loan for £5000 although with a high 35.90% APR. Are they classed as a payday lender and do they record as such on credit files?
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.......but, at those rates, they should be.Deleted_User said:No.......I came into this world with nothing and I've got most of it left.3
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