I am so very lucky, because I have been selected as worthy to apply for a Priority Club Rewards Black Visa. It will get me 40,000 points, and subject to a million (slight exaggeration) conditions and complicated terms, I can benefit from a representative APR of 39.7% (variable). This includes the £99 annual fee, although this is refunded for the first year. So, I am supposed to apply, be charged £99 and then have it refunded by the end of March. There's obviously some legal necessity to make me pay it to then have it paid back. At a guess, I will probably be liable to pay it should I cancel - not sure, as the terms are too lengthy to read.
I have considered the offer, and after much angst, I've decided that good as the interest rate is (!!!) I will decline, and post the paperwork/crap back to the sender (unsigned) using the handy prepaid envelope.
"The Smartest Investment You'll Ever Make" is not quite how I'd have put it, but the marketing people obviously thought this statement on the back of the leaflet was a good idea.
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