Are you as 'exclusive' as me?

[DonnyMac]

Well, being in the marketing game I like to see a good piece of well written Direct Mail, the copy writers at RBS are very good, if not excellent.

I have more credit cards than I know what to do with and am not in the market for another; however, I just received -

"Your exclusive invitation to experience RBS Black"

...credit card with a minimum £15k limit, exclusive Airport Exec lounges, PA Service, car cover etc. etc.

Okay, the copy stroked me a bit and I'm thinking if they have a decent 9 month+ 0% deal I'll fill out the form and get one.

I couldn't find any mention of a 0% deal, and it may have one, but I have a mild concussion since falling over in a mixture of shock and convulsions caused by laughter.

Thank goodness for the 'SUMMARY BOX'.

Typical 51.8% APR (variable)

Wow, is that legal and if that's the 'exclusive' rate, then I don't want to be.

Still in shock,
D.

[5pen]

That's government (part)ownership for you.

[Mattygooner]

DonnyMac said:

Well, being in the marketing game I like to see a good piece of well written Direct Mail, the copy writers at RBS are very good, if not excellent.

I have more credit cards than I know what to do with and am not in the market for another; however, I just received -

"Your exclusive invitation to experience RBS Black"

...credit card with a minimum £15k limit, exclusive Airport Exec lounges, PA Service, car cover etc. etc.

Okay, the copy stroked me a bit and I'm thinking if they have a decent 9 month+ 0% deal I'll fill out the form and get one.

I couldn't find any mention of a 0% deal, and it may have one, but I have a mild concussion since falling over in a mixture of shock and convulsions caused by laughter.

Thank goodness for the 'SUMMARY BOX'.

Typical 51.8% APR (variable)

Wow, is that legal and if that's the 'exclusive' rate, then I don't want to be.

Still in shock,
D.

You can get a better APR from Iceland.

Country and shop.

51.8% APR is shocking, even Vanquis give you 39%

[sjg]

I've had stuff from them. Doesn't seem to bad if you'll use the facilities, but obviously for people who spend on it and pay off in full each month (thus APR is irrelevant), and definately not at the end of the market where people are chasing around for 0% balance transfer deals.

[barney123]

DonnyMac said:

Well, being in the marketing game I like to see a good piece of well written Direct Mail, the copy writers at RBS are very good, if not excellent.

I have more credit cards than I know what to do with and am not in the market for another; however, I just received -

"Your exclusive invitation to experience RBS Black"

...credit card with a minimum £15k limit, exclusive Airport Exec lounges, PA Service, car cover etc. etc.

Okay, the copy stroked me a bit and I'm thinking if they have a decent 9 month+ 0% deal I'll fill out the form and get one.

I couldn't find any mention of a 0% deal, and it may have one, but I have a mild concussion since falling over in a mixture of shock and convulsions caused by laughter.

Thank goodness for the 'SUMMARY BOX'.

Typical 51.8% APR (variable)

Wow, is that legal and if that's the 'exclusive' rate, then I don't want to be.

Still in shock,
D.

I was offered the same on monday. I think becuase of the way APR is worked out (ie so that nobody know what it means?) the charges (was it £250 a year?) are built into it. So effectively if you spent £1 on it you could be charges 2,500% interest !


Edit : Nice brochure though !

Edited by barney123 on Tuesday 2nd December 11:12

[Christiaan]

I had a similar invitation about 3 months ago.
Apparently it is something to do with how "TYPICAL" APR's have to be calculated.
All Credit cards have to be illustrated using the same variables...so they can be directly compared. I believe when those variables are applied to the Black card (£1000 credit limit for example) and annual fee is factored into the "Cost" over the year it makes the APR look awful.
I may be corrected but I think the actual interest charged on this card is the same as most of the Natwest cards (something in the high high teens/ low 20's).