A fairly thick envelope was waiting amongst the mail when I returned yesterday. It looked like junk mail but was just slightly too opulent, too much saying "Open me". So instead of binning it, I decided to see what wonders were within.
I had been selected.
Yes, for a new kind of credit card. It claims it could do my ironing, and help with maths homework as well as telling me the weather in Bangkok.
I could have been smitten.
But there, on the thinner paper amongst the shiny brochures, was the spindly typeface of the agreement. I flicked to the back, where the even smaller print had been squeezed onto the page, such that "IMPORTANT INFORMATION" was in 8 point font.
But there was still a big box.
Typical APR 51.8%
I'm guessing I must be a very big risk to this company. They explain that the number is only the figure quoted under the Consumer Credit Act regulations and that this means it is distorted.
I've decided to put the papers into the bin anyway.
One less credit risk for them to worry about.
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