It may be the lesser of two evils, writes Ben FlanaganA new credit card aimed at the poor, which has a top interest rate of nearly 70 per cent – the highest ever – has been cautiously welcomed by Consumer Credit Counselling Service (CCCS).The Vanquis Visa card attracted criticism when it was launched nationwide this month, following a trial in Scotland. It has a typical APR of 49.9 per cent but a top rate of 69.5 for borrowers it deems the highest risk. Continue reading…
Source : theguardian.com
Read more…A credit card with APR of 70 per cent.
