Credit card for those with a poor credit rating

[DimPrawn]

http://www.capitalone.co.uk/creditca...assic-card.jsf

No Annual Fee
Up to £2,500 in spending power
Credit Limit Increase - Manage your account well † and we'll increase your credit limit on your 4th statement.
A FREE choice of card design
Spread your payments
34.9%APR typical variable


That should help people?

[chef]

Free choice of card design !!!! wow all those waynes and waynettas out there would live that..

[Mich the Tester]

Free choice of card design !!!! wow all those waynes and waynettas out there would live that..

...and the 34.9%APR typical variable will make sure the pawn shops are well stocked for the next few years.

[gingerjedi]

Unfortunately people are so addicted to credit there will be no shortage of up takers.

[chris79]

If you thought that was high check these guys

http://www.vanquis.co.uk/home/Vanquis_Visa_card.aspx

*Typical APR... I've seen them advertising 59.9% on there once, justified if you are classified higher risk, etc..

[Mich the Tester]

Isn't this precisely what got the world into the tulip in the first place?

[badger7579]

Contracted for Capital One a few years back so dull. Interestingly none of the permies (sorry "associates") I worked with had a Cap One credit card, even though they got a special rate.

Says something when they dont even take up their own product

[gingerjedi]

If you thought that was high check these guys

http://www.vanquis.co.uk/home/Vanquis_Visa_card.aspx

*Typical APR... I've seen them advertising 59.9% on there once, justified if you are classified higher risk, etc..

"No annual fee" bargain!

It's the 2% minimum payment that traps people in debt, I reckon there should be a sliding scale where a card that has an interest rate of say 20% should have a minimum payment of say 10%, a card with 30% should have 15% minimum. Not as profitable for the CC companies but it would make for more responsible lending and borrowing.

I'm not sure if it still applies but Portugal used to have a law where the minimum payment was 15% of balance no mater what the rate.