Friday, Dec 28, 2007
Well, what else did you expect?
Times Online: Huge rate rise looming for sub-prime credit card users
''Fresh evidence of a squeeze on consumer credit emerged yesterday as one of Britain’s top sub-prime credit card issuers pushed through a huge rise in its lending rates....Marbles, the private equity-owned card provider aimed at borrowers with patchy credit histories, is preparing to hit some of its 338,000 account holders with annual interest charges of as much as 33.9 per cent for cash advances. Marbles will also charge an annual 26.9 per cent rate of interest for purchases.''
Posted by hpwatcher @ 06:58 AM (423 views) Add Comment
4 Comments
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1. Camping said...
its enuff to make you lose your marbles. and why all the .9 percent, maybe its a christmas rate meant to tie with the lifespan of jesus,?
2. inbreda said...
26.9% on purchases!!!!!
I am really glad I am not heavily mortgaged or have any debt on Xmas cards otherwise I wouldn't be looking forward to 2008 half as much as I am!!
3. Dontbuyyet said...
So what's the problem? Just take the equity out of your house as normal and spend with that?
Ooops. Can't do that any more.
Oh well, get a cheap loan on the back of massively bloated house price.
Ooops. Can't do that any more.
Time for a re-adjustment. And it's going to be painful :-)
4. tyrellcorporation said...
IMHO, these guys know the game is up and are going for the jugular. Probably best (for them) to absolutely screw every last penny out of debtors before someone else does. Eventually the pot will run dry and sub-prime lenders will go under.