Credit Card Charges

[hedman2003]

Just had a pop up on my pc for a vanquis credit card with an APR of 39.9%!!!. I appreciate that the card is aimed at those people who have a poor credit history however that APR is obscene and its picking on the most vulnerable who presumeably are already struggling financially. I also have the same feelings about Brighthouse who have a typical 29.9%apr.

With Christmas around the corner if you do have a poor credit history and can't get credit through the normal channels please ensure that you know the full cost of using the above credit facilities

[MargaretR]

Some good impartial advice to be had here
http://www.moneysavingexpert.com/cards/

[entwisi]

There is a ew card system that you top up at Paypoints , I know there is a small charge but for those who can't get a normal credit or debit card it will help with online purchasing.

One thing about these cards is that if you do use them (and keep paying them off on statement day) they don't cost you anything and will help rebuild your credit score so you can then go back to mainstream lenders regular purchasing over 12 montsh should be plenty to get you back on normal terms.

[panther]

and did ya know it could take ya up to 40 years to pay off a credit card of £1000, if you keep paying the minimum payment!!
they say you should pay....eg,...£30 amonth, and keep paying the same, not reduce your payments when your minimum payment reduces, other wise that is where the up to 40 years comes from!!!!!!

[MargaretR]

The best way to use credit cards is to ALWAYS pay it off in full every month, and use a card that gives CASHBACK.

The amount of cashback to be earned varies between 0.5% and 4% (I am getting 4% for an initial 3 months, then 1% thereafter).

This way the credit card companies PAY YOU for using them, and is like a discount on all you buy

[shillelagh]

Ok ive said this before. Try your local credit union. HHH Credit Union covers Haslingden, Helmshore and Hyndburn. Telephone number 01706 215082. You can get loans from them and pay them back weekly or monthly. They are a cheap way of getting a loan and because you save as well when paying them back you have a lump sum or you can get another loan.

[***Mr D***]

Originally Posted by hedman2003

Just had a pop up on my pc for a vanquis credit card with an APR of 39.9%!!!. I appreciate that the card is aimed at those people who have a poor credit history however that APR is obscene and its picking on the most vulnerable who presumeably are already struggling financially. I also have the same feelings about Brighthouse who have a typical 29.9%apr.

With Christmas around the corner if you do have a poor credit history and can't get credit through the normal channels please ensure that you know the full cost of using the above credit facilities

Agree total rip off preying on the needy.

Brighthouse, I read one of there credit agreements when a friend of mine got something, needless to say after our conversation when I told him the full facts he went straight down and cancelled it.

Ie - £350 Laptop, they sell for £650 and charge the earth in credit. Oh and they also signed him up without the full ID required.

Its all good saying pay it off in full every month, but the people who go for these cards usually arnt in that position or they could just get a run of the mill one.

[Yolanda25]

No way i would ever get a credit card, im the kind of person that if you cant afford it dont buy it, i know loads of people in deeply debts because of credit cards, if i ever want something i just save, some people says that you just have to be careful but im totaly against them