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Zable credit cards?

stewartwilliams
Posts: 122 Forumite

in Credit cards
Not thinking about this, but it's something that popped up on Clearscore when browsing.
Whilst it acts like a credit card, is it a sort of payday loan? Gives the impression that if you spend say £500 on the card, they'll then try and take the full £500 to pay the card off a few days after a statement is issued?
Whilst it acts like a credit card, is it a sort of payday loan? Gives the impression that if you spend say £500 on the card, they'll then try and take the full £500 to pay the card off a few days after a statement is issued?
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Comments
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stewartwilliams said:Not thinking about this, but it's something that popped up on Clearscore when browsing.
Whilst it acts like a credit card, is it a sort of payday loan? Gives the impression that if you spend say £500 on the card, they'll then try and take the full £500 to pay the card off a few days after a statement is issued?Life in the slow lane0 -
stewartwilliams said:Not thinking about this, but it's something that popped up on Clearscore when browsing.
Whilst it acts like a credit card, is it a sort of payday loan? Gives the impression that if you spend say £500 on the card, they'll then try and take the full £500 to pay the card off a few days after a statement is issued?
Not seeing anything that might attempt to take a full repayment of an outstanding balance.
It's always a fine line for any credit card provider - they must not be seen to be encouraging the accumulation of debt, they must only facilitate "responsible lending" but, of course, they are only making money when customers are NOT settling their monthly bills in full.0 -
stewartwilliams said:Not thinking about this, but it's something that popped up on Clearscore when browsing.
Whilst it acts like a credit card, is it a sort of payday loan? Gives the impression that if you spend say £500 on the card, they'll then try and take the full £500 to pay the card off a few days after a statement is issued?0 -
Something to be aware of - they do not accept balance transfers.0
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