A new credit card aimed at the poor, which has a top interest rate of nearly 70 per cent - the highest ever - has been cautiously welcomed by Consumer Credit Counselling Service (CCCS). The Vanquis Visa card attracted criticism when it was launched nationwide this month, following a trial in Scotland. It has a typical APR of 49.9 per cent but a top rate of 69.5 for borrowers it deems the highest risk. But despite an APR of up to 15 times the Bank of England base rate, debt adviser CCCS says the card is the lesser of two evils for those who have trouble obtaining credit elsewhere. 'People should approach this with extreme caution and realise that the interest rates are very high,' says spokesman Frances Walker. 'But I can't see why you shouldn't get a credit card with a very low credit limit. We've always been concerned about the danger of driving people into the hands of loan sharks [if denied credit elsewhere].' Vanquis targets people with limited or impaired credit ratings earning a … [Read more...] about A credit card with APR of 70 per cent. Is this exploitation or the help some people need?
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A woman has told how a Tinder date bragged about his finances during their expensive dinner - only to have his card declined when paying for the bill. Emma Louise Sanders, 30, of Rainham, Essex, recalled how the man, who was not named, ordered rounds of drinks at an upmarket restaurant at London's Sky Garden - where cocktails start at £13 - despite her insistence that she didn't want any. However when it came time to pay the £100, the flashy man found himself short. His credit card was declined three times and he was ultimately forced to phone his father to ask for a bank transfer to cover the costs. Emma Louise Sanders, of Rainham, Essex, was taken for cocktails and dinner at the upmarket London Sky Garden restaurant by the man, who has not been named. Stock image Emma was on Tinder for two years until meeting 'Mr Right' Danny in 2016. The couple have a son named Callum. Emma wanted to share her dating horror story to give … [Read more...] about Woman’s Tinder date bragged about his finances and £2K credit card limit before having his card declined when paying for the £100 bill – and had to ask his DAD to transfer money to cover the costs
If you’re looking to buy one of this year’s most wanted toys for Christmas, you need to act quickly. Prices have been changing rapidly since the annual Dream Toys list was announced on Wednesday, and experts say that the next fortnight is the time to snap up a bargain. For example, both Boots and Argos are offering three toys for the price of two this week and right now, armed with a bit of insider knowledge, you can pay the big online retailers like Toys R Us, Smyths and Amazon between 4% and 12% less than the prices they advertise to everyone else. Here are the best deals currently available from the major toy retailers, plus our top tips on how to pay less at the till for toys: Bop It! Beats, RRP £21.99 (ages eight and up) This electronic music game, which can be played alone or with friends, requires super-fast reactions. Over the past 24 hours, prices have fallen dramatically to almost 50% off the RRP, with Toys R Us and Smyths currently battling it out at … [Read more...] about Christmas top toys 2014: where to get the best deals
Halifax has joined HSBC in announcing customers can now self-exclude their bank cards from being used to gamble – and if they change their mind they won’t be able to start spending again for another 48 hours. The block is designed to prevent problem gamblers betting money they can’t afford to lose and restrict impulsive behaviour. It lets them prevent their cards being used at bookmakers and gambling websites. Halifax customers who have opted in to the service will not have their cards “unfrozen” for 48 hours, to help “protect those who might otherwise make an impulsive return to gambling”. HSBC, Europe’s largest bank, said earlier this week its 14.5 million UK customers can now self-exclude from all gambling transactions. The restriction can only be reversed after a 24-hour cooling-off period. HSBC says about 500,000 customers placed bets every month in 2018, spending an average of £52.50. It received more than 12,000 calls about … [Read more...] about Halifax joins HSBC in letting customers block cards from gambling
It’s often said that paying into a workplace pension is a no-brainer, and maybe here’s the proof: early investors into Britain’s biggest auto-enrolment scheme have tripled their money in seven years. And those who chose the ethical fund have made the best returns. Figures provided exclusively to Guardian Money by Nest (National Employment Savings Trust) – which boasts 8.5 million members – are good news for those putting aside money for their future. But they also reveal that a decent chunk of Britons’ retirement cash is riding on the fortunes of Facebook, Apple, Google and Amazon. Nest is a publicly owned scheme set up by the government as part of the so-called “automatic enrolment” retirement saving initiative designed to get millions more people paying into a pension. This kicked off in October 2012 and requires all employers to automatically put eligible workers into a workplace pension where both the worker and employer pay some … [Read more...] about This pension scheme has 8m members – and ethical savers do best