Your missing the point. These loans are not usually for a pair of Moschino jeans or Evisu handbags, they are usually taken out to be able to put food on the table, buy your kid the bike they want for xmas or to pay the rent or face eviction!
+2
The 23and million& APR doesn't look like a great lending rate, but it's because the loan is over such a small amount of time on such a small amount of money.
On a side note of people wanting to get you into dept, I rang my bank to pay a little of my credit card bill.
A total of £617.00 (car insurance) which I whacked on an interest free credit card, I'd pay £200 off a month, saves me paying monthly to Mr. Insurer.
I spoke to a Natwest man on the phone about paying off £200 of it, he said "But sir your minium payment is only £13 (ish), you still have £980 to spend today".
Nice to see Natwest concerned about the young'uns getting into debt.
Yup and they will probably raise your spending limit quietly also - so say £13K!!