The 43.5% APR Credit Card

Perhaps this British Airways American Express Premium Plus Card’s interest rate is in “metric” APR, but if not, no matter what side of the pond you’re on on, or road you drive on, you must agree that a 43.5% variable interest rate is bollocks. Who cares how many bonus miles you get, they’re just going to get devalued anyway.

UPDATE: The 43.5% APR is the effective APR after you include the £150 annual fee. Like commenter Hanke wrote, “It’s just like those payday loan places, where although the actual interest rate is low, the fees associated with the service give you a 300%APR.” Makes you wonder, though, what about all those American credit cards with annual fees? Their effective APR is also higher then, and as far as I know, they don’t have to include the fee in the stated APR (big print or no).

British Airways American Express [Official Site] (Thanks to Kerwin!)