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88,000 % APR... Seriously from Yes-Loans 'Pay-day' loans.


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Advice from Yes Loans... “You are messing up your credit rating by not taking this loan.” Read on!




I received a call from Yes Loans, trying to convince me to take out the PayDay loan.... The call was at 19:40 on 19 August.


I said, "I don’t want an 88,000 % APR loan.” Chris the salesperson defensively replied, “It’s not that high it’s only 1,737 percent- the only reason it’s so high as it’s until your next pay day.”


The call got even stranger with some quite illegal sales tactics being used...


I was told, “You will vastly increase your credit rating by taking this loan. If you take this PayDay loan, when you then reapply for your main loan you will get a much better rate than 41%.”


I asked for clarification saying, “When you say “Vastly improved credit rating” can you put that in quantifiable terms. My credit score is 162, how much will it increase by...?”

He got quite annoyed with my response and said to stop asking stupid questions. I then stated, “You are merely a credit broker, so how can you guarantee want APR ?”


Chris started to get aggressive saying, “You are messing up your credit rating by not taking this loan. If you don’t take this loan it will be marked on your credit file and will increase your chances of getting rejected in the future. Just think about this conversation the next time you apply for a loan and get rejected. “

I said Chris, can you tell me your last name as I’ve been recording this call...

He said he didn’t have to give his name due to data protection and then hung up!

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