Credit Card Lending Still Rife

Online Stock Trading - No Credit Card Crunch Here

Credit Cards are Still Alive and Kicking

In this economic crisis it's hard to get credit we are being told constantly. Personally I find it hard to credit ! Today I received yet another set of credit card cheques from my friendly MBNA head office, offering me to lend me money via those wonderful credit card cheques mmmmmmmmmm credit card cheques - at the tantalizing loan rate of just over 25% per annum and they have just increased their loan administration fee to 4%! How tempting is that ?

But an hour after I threw that offer of a loan I couldn't refuse in the bin I got a call from another credit card / bank who, for want of a better word, I shall call Halifax asking me if I wanted to borrow some of their lovely money and offering to lend me said money at the tempting rate of 8.9%.

Clearly I had been carefully selected because they think I am an idiot who is up to his eyeballs in debt and so they think they should offer me a bit more. But what's the point I'd only invest it in some flaky equity like RBS or Barclays and end up wore off than when I started. I told the guy I already had plenty of loans at rates lower than 8.9% and he went away, maybe he'll come back with a better offer. But I get offers of loans from credit card companies all the time, not usually by phone I must admit, but it shows that someone out there is still desperate to lend their cash.

If you are in the opposite position and are able to lend out your money, you may want to have a look at the wonderful scheme that has just been devised where you can auction your money to the highest bidder ! You need a minimum of £30K but it sounds interesting if you are looking for good deposit rates for your money - Auction Your Money.