The official APR is 2334%

[Jon C]

My word.... This is quite scary. Couldn't find what the rate goes to if you welch on the deal!

https://www.wonga.com/homepage.aspx?B=51&G=1&a...

[Stu R]

cheaper than going overdrawn.

big scary APR percentages mean nothing over short loan periods, 30 quid to lend a couple of hundred quid over couple of week is pretty reasonable given the risky client base you're likely to be dealing with, and the flip side is it might save someone from a hundred quid in non payment charges or overdrawn account fees.

Still, I'll bet most of these loans get spent on lotto tickets and mayfair ciggies.

[ultegra]

Jon C said:

Couldn't find what the rate goes to if you welch on the deal!

You probably have to like hospital food.

[ManicMushroom]

lol, I've been reading there FAQ's and I think a collection agency gets sent round to pick up your stuff :/.

[Mandat]

[Deva Link]

I think APRs are often meaningless.

Having said that, shouldn't, by law, the APR be shown on that website's front page?