%APR

  do-gull 11:52 26 May 2010
Locked

I have just seen an advertisement on tv for someone called quickquid,they offer loans within 30 minutes,
Great you might think BUT the %APR is an unbelievable 2356 yes 2356.

Who in there right mind would borrow at that rate.
£150 would have you paying back £3534.

I assume people must or they would not bother advertising.

D.G

  babybell 12:14 26 May 2010
  Covergirl 12:14 26 May 2010

click here

Some links within the thread lead to explanations of how it is calculated.

Have a read.

  interzone55 12:16 26 May 2010

These are what's known as Pay Day loans, very short term to tide you over until pay day, they're not meant for long term lending.

To be honest they're little more than loan sharks, but by listing the APR they're abiding by the law...

  Covergirl 12:16 26 May 2010

. . . but babybell just got there before me :-)

This thread is now locked and can not be replied to.

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