Lenders get ready for Christmas
19th October 2003

Doorstep company plans "draw down" card

News reaches Debt on our Doorstep of door to door lender plans to unveil a new electronic card allowing existing customers to draw down extra cash in the run up to Christmas, at the usual bargain rate of 177% APR, or twice that for 6 months loans. Given that recent days have seen Barclaycard rates described by their own boss as "too expensive" and store cards have come in for a bashing by John McFall's Treasury Select Committee, the planned expansion of truly usurious lending such as this is unlikely to be given a warm reception.

More details as we have them...