A Nice Little Earner

I was taking a break this afternoon from yet another dismal trading session, enjoying a cuppa and watching a re-run of an episode of Star Trek for the umpteenth time, when I nearly fell off my chair.

The commercial break was on and up popped an ad for a loan company, QuickQuid. Nothing unusual in that I hear you say. However, what nearly caused me to spray a mouthful of tea all over the living room was their advertised APR. A whopping 2356%

Yes, you read that correctly. A typical APR of two thousand, three hundred and fifty six percent! Absolutely outrageous. I had to visit their website to confirm. I won't give them credence by posting the link, but you'll find it easy enough.

Why doesn't the powers that be stop these ads as they are clearly preying on those people who simply do not understand these things?


JS said...

That's quite a return on investment! Sounds like we're in the wrong trade

benben said...

i am DEF in the wrong trade...that is a crazy amount! (and the worst part is i totally know people who are the target!)