Taking out credit

If you need to borrow money you should try and understand how much it costs. Rates can vary a lot and there may be penalties.

Some companies will charge more than others so shop around for the best deal.

Comparision: Taking out a £200 loan over 1 month

  APR Total repayment Cost to you
Manchester Credit Union 42.6% £205.75 £5.75
Wonga 1509% (representative) £248 £48