Monday, 22 October 2007

Reckless? That'll do nicely

I'm grateful to Peter Black AM for a press released headed "Labour 'complicit in reckless lending' says AM".

If you're appalled by reckless lending, you can sign up here for a Liberal Democrat credit card. After an initial interest-free period you may find yourself paying a far from reckless 18.9 per cent APR.

Peter Black's ire was focused on mortgage lenders but I think the principle's the same (and the interest rate higher) so I hope I haven't quoted him entirely out of context.

Clearly he didn't have the Co-Op or Visa in mind when he said: "It is quite clear that the banks themselves will do nothing voluntarily to reduce the good living that they make out of the debt they have foisted upon their customers."


Glyn Davies said...

I would expect a Lib Dem card to attract almost no interest at all.

Peter Black said...

The Liberal Democrat Visa card of course does not charge a monthly fee like many others whilst its interest rate is very competitive with other such cards. Also, whenever it is used the party gets a 0.5% commission. What more could you ask for?