Black Diamond Credit Cards | www.blackdiamondcreditcards.co.uk
The Black Diamond credit card was originally released by Vanquis. It has been around for a long time, but it is tricky to pinpoint the background since it is now only available from a broker, with Vanquis now issuing the cards rather than holding complete control. The website where it is now promoted is www.blackdiamondcreditcards.co.uk that was registered back in early 2012. The noted broker is Credit Benefit Services Llc who is an American company with a local base in Portsmouth. They have been involved in a number of projects such as the Rise and Shout credit cards that have each now been closed for new applications. Each of these were issued by R Raphael & Sons.
Rise and Shout were both unusual cards that came with expensive monthly charges making them more similar to traditional payday loans than cards. The Black Diamond credit card has the least attractive headed interest rate of every release from the lender. This APR is 59.9% (59.94%) that is strangely their mid tier rate with the variable charges noted in their summary box being 39.9% and 69.9%. It is unusual that they wouldn’t be promoting the best potential APR of 39.9%. Perhaps they make more money by attracting customers at this level. The www.blackdiamondcreditcards.co.uk site is basic in its design, but they do encrypt the applications. They reference, but don’t link out to the login facility (EVanquis).
One point to raise is that the standard Vanquis rate is variable up to 69.9% and so if your score is very low, then you’ll face this APR at whichever property you apply at. Newcomers here are started off on between £150 and £1000 that can potentially reach £3500. You may often see this product pitched on a few comparison site listings. It isn’t however being actively promoted online. Vanquis have other supplementary brands (NEO, Origin and Original) and then there are the various affinity partners. When people see lower rates on that side it does make you wonder of the lifespan of this product represented by CBS and whether it will eventually follow the same pathway as Rise/Shout.