Quote:
Originally Posted by DiscoStu
Saw an advert on Facebook for "Payday Loans". They charge £20 per £100 borrowed. Am I right in thinking if I borrowed 2 weeks before payday then repayed the day it was due it'd represent an annual interest rate of 520%?  |
That's an incentive to live within your means!! However, credit cards can be used to borrow short term and cheaply if you pay off the balance every month as I do.
