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Argos card charges 222.7% interest


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Low-income borrowers were today warned against signing up for an Argos payment card, which has an interest rate of up to 222.7%.

 

The Easy Shop Card, which the retailer has launched in partnership with sub-prime lender Provident Personal Credit, is aimed at cash-strapped shoppers who want to borrow between £100 and £500 to spend in the store.

 

The lender's website says applying for the card is "simple and straightforward" with "no complicated forms", and that borrowers can make "affordable, fixed, regular repayments - collected by a local agent".

However, the interest rates on offer are significantly higher than those available on standard credit cards, where APRs tend to be below 30%.

 

More:

 

Argos payment card charges 222.7% interest | Money | guardian.co.uk

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That's the Christmas shopping sorted.

 

Thanks.

 

Is 222.7% expensive?

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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It's being in partnership with this lot, Provident Personal Credit. They are behind the Vanquis Credit Card. The APR on that has been known to be around 1500%.

 

People should stay well clear of this company, and the Argos Card.

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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