It’s still happening then. With thousands of families gripped by financial hardship it seems there’s never a shortage of people making profit from someone else’s hardship. Following on from my posts about moneylenders Wonga.com and their exhorbitant APR interest rates, I noticed a television advertisement for ‘Quick Quid’. Apparently ‘approval takes up to 30 minutes in most cases’ and you can get your money on the same day ‘if approved by 14.30’. At 2356% typical APR, Quick Quid’s interest is staggering. But it still doesn’t match Wonga.com who boast a mighty 2689% typical APR.
At this point, it seems sensible – at least for those of you living in Kent – to give a plug for Kent Savers, the newly-launched countywide Credit Union, whose APR is eminently more affordable! They can be contacted at www.kentsavers.co.uk, or by phone on 0300 456 9990.