just seen an advert for QuickQuid which in fairness to them, had written in large writing "1734% APR". I can't remember who it was, but I do recall one company being a bit above 2200% APR
Might the problem be that people don't understand what "1734% APR" actually means? These companies aren't hiding the rate, and the morals of charging such a high amount aren't really in question. Whether the FSA should allow such high rates is however quite pertinent. For the true figures (which make for terrifying reading) check the link below!
Loan payment | Calculators | guardian.co.uk Money
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