Dundee Football Club introduces finance option with Capital Credit Union

[islaydarkblue]

I enclose details of a new finance option for the payment of season tickets posted on the Dundee Football Club website. https://dundeefc.co.uk/news/dundee-f...-credit-union/
Whilst this seems a great idea with the usual ?ethical? stuff on the Capital Credit Union website as usual the devil is in the detail. https://www.capitalcreditunion.com/loans/football/
The repayment rate for borrowing funds from Capital Credit Union to purchase a Dundee Football Club season ticket is 11.6% APR.
On the plus side if a person who has borrowed funds from the Capital Credit Union dies whilst making the repayments the loan dies with the person as the Capital Credit Union has an insurance policy to cover this.

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I don't think 11.6% APR is particularly bad to be fair Islay, whilst not being great obviously. Sitting around what you'd expect on a personal loan with a standard (neither low nor high) credit rating.

Bear in mind that the loans will be relatively low at under 500GBP so the actual additional interest amount over the year i.e. earnings for the lender isn't that high per loan. There's also the chance that take up will be low so a bit of a gamble on the part of the lender?

[islaydarkblue]

I don't think 11.6% APR is particularly bad to be fair Islay, whilst not being great obviously. Sitting around what you'd expect on a personal loan with a standard (neither low nor high) credit rating.

Bear in mind that the loans will be relatively low at under 500GBP so the actual additional interest amount over the year i.e. earnings for the lender isn't that high per loan. There's also the chance that take up will be low so a bit of a gamble on the part of the lender?

The 11.6% APR is cheaper than a personal loan with Capital Credit Union.
However I do believe that the 11.6% APR should have been mentioned in the press release on the Dundee Football Club website as some supporters thinking of using this scheme to purchase their season ticket for next season might think that it is an interest free loan.