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  #1  
Old 31st October 2008, 06:02 PM
GlasgowGirl GlasgowGirl is offline
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Default Argos store card charges 222.7% interest rate

No, that isn't a typo: the store card offered by Argos in partnership with Provident Personal Credit is charging a whopping 222.7% interest. The card allows you to borrow between 100-500 to spend in any Argos store nationwide, allegedly to let you shop, "without the worry of overspending". Until, that is, you get the bill and find you'll be paying far more than you actually spent.
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Old 9th November 2008, 11:08 AM
Witch consumer Witch consumer is offline
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That is absolutely unbelievable, I must go and have a look how it is advertised, Provident have always been nothing more than loan sharks and I'm amazed that a company such as Argos would have anything to do with them.

I would never touch a storecard having been stung in the past for a mere 27%.

Thanks for the info on that one, I'll put it about a bit.
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Old 15th November 2008, 01:01 AM
scotchlass scotchlass is offline
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That is truly amazing- how is it possible that they can get away with charging that amount- even my credit cards were not as much as that!!!

I agree with Witch consumer, I'm surprised Argos have teamed up with Provident.I have recently heard from a friend who uses them (Provident) that they charge extortionate interest rates.
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Old 27th November 2008, 06:25 PM
bmd bmd is offline
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Thats crazy. There are still plenty of 0% cards 6 or 12 months out there.
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Old 1st December 2008, 01:37 PM
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Quote:
Originally Posted by scotchlass View Post
That is truly amazing- how is it possible that they can get away with charging that amount- even my credit cards were not as much as that!!!

I agree with Witch consumer, I'm surprised Argos have teamed up with Provident.I have recently heard from a friend who uses them (Provident) that they charge extortionate interest rates.
is surprising, best thing to do is just balance transfer to a new car with lower apr

Last edited by Tony; 1st December 2008 at 01:52 PM. Reason: Link removed
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Old 1st December 2008, 06:41 PM
temi temi is offline
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I am not saying this is a reasonable rate to charge for any credit card but to be fair, the card is targeted at people with poor credit rating , not bank account etc etc. Its the old fashion style credit where a collector comes to your door to collect the repayment every week/month as agreed with the collector.
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Old 15th March 2009, 01:48 PM
perfumemaster perfumemaster is offline
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222.7%

That's just nuts.
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Old 25th April 2009, 06:07 PM
Georginazn Georginazn is offline
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I do think it is very low of Argos to ally themselves with such a notorious company. Actually, knowing nothing about Argos, perhaps there are other links? Whilst the percantage rate is not the worst I have come across (must post sometime about Pay Day loans!!!), it is very duplicitous to weave it into purchases from a 'reputable' chain known for it's value. Anything bought at that rate will not be 'value'. Few people check out, or understand 'terms and conditions' and won't realise 'final price'. The rights and wrongs of people buying without checking out the terms is for another time!(when I have opened the wine and settled in for a long stay!)
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Old 29th October 2010, 03:38 PM
jackop jackop is offline
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Unhappy Re: Argos store card charges 222.7% interest rate

I have just read this and surely this can't be legal. Would anyone really apply for a card that has that amount of interest rate or is it hidden so you don't notice the 222.7% rate. I guess as it is a big company like Argos they believe they can get away with this. Surely the government can put a stop to such a high rate. Has it gone down since this post or are they still doing it? I am currently looking to see what are the best store cards around. I used to have a couple a few years ago but the interest rates put me off so much I stopped. Reading these sort of things makes me wonder if there are any cards woth having. I have looked around for store card reviews to see what are the best deals but if anyone knows of any please let me know.
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Old 6th November 2010, 12:40 AM
AlexanderA AlexanderA is offline
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Default Re: Argos store card charges 222.7% interest rate

I thought the government was cracking down on loansharks since a few years, this one slipped through the net??
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