Dorsetmike
Member
APR limit?
I've just seen an ad on ebay for a new credit card - LUMA "for poor credit" "good for credit building or poor credit" "Credit limit up to £1.500"
APR 35.9%
Methinks that is way over the top, especially for somebody desperate for money &/or who doesn't understand interest rates.
Is there not a limit on the APR% that can be charged? If not, why not?
What does the team think? Should there be a limit if so at what level, my feeling is it should be less than 20% or even below 15%
APR 35.9%
Methinks that is way over the top, especially for somebody desperate for money &/or who doesn't understand interest rates.
Is there not a limit on the APR% that can be charged? If not, why not?
What does the team think? Should there be a limit if so at what level, my feeling is it should be less than 20% or even below 15%