Would you ever consider taking out a loan that charges you well over 3,000% APR?

No? Me, neither. Paying interest at such a ridiculous rate seems absurd; but there are a huge number of people that fall into this trap, often without even realising. The so called 'high-cost credit sector' is a £7.5 billion industry that feeds off people in such financial difficulty that they resort to borrowing at these absurdly high rates.

So you may be surprised to hear that rather than slating this sector, the report the OFT released today instead acknowledged that these types of loan aren't all bad and can play a useful role in providing credit to those who can't get it elsewhere.

They've put forward a number of recommendations to clean up the dodgy dealers of the high-cost credit underworld (so as not to tarnish them all with the same brush, I should point out that there are those that operate 'above board') but I have to say that we were one step ahead of the game with this one.

We already have a Payday Loan comparison table on money.co.uk (one of the OFT's suggestions) complete with a warning and guides that explain exactly what the risks are.

We felt that it was important to help people make an informed choice whatever financial product they're taking out. After all, when you're talking a couple of 1,000% difference between the best and worst deals it's arguably even more important to be able to compare your options!

Hannah

Shopping

	20% Off All Toys at Early Learning Centre Save 20% on all toys at the Early Learning Centre.
	Up to 50% off at The Body Shop The Body Shop have reduced a great range of products to half their usual price.
	Up to 50% Off Shoes at Clarks The Clarks summer sale has started and there's up to 50% off online and in-store.
	Up to 50% Off in the Debenhams Sale There's up to 50% off thousands of items in store and online in the Debenhams sale.
	£3.75 School Uniforms at Tesco Tesco are selling complete school uniforms for just £3.75 - the cheapest available.
	Up to 50% Off at French Connection Stock up on summer-wear for less with up to 50% off at French Connection.

Food

	Free Cheeseburger & Chips at Yates Get a free cheeseburger and chips from Yates.
	£1 Pizza at Pizza Express Buy 1 pizza at Pizza Express and get another for just £1.
	Free Jack Daniels & Pepsi at Sizzling Pubs Get a free glass of Jack Daniels and Pepsi when you 'Like' Sizzling Pubs on Facebook.
	2 for 1 Main Courses at Brasserie Gerard You can get 2 for 1 on main courses at Brasserie Gerard this June.
	20% Off Whisky & Half Price Champagne at Sainsbury's Sainsbury's have reduced their range of whiskies by 20% and have 50% off selected champagne too.

Travel

	£8 One-Way Flights with Ryanair Get a one-way summer flight from just £8 at Ryanair.
	Up to 45% Off All Flights with BmiBaby Save up to 45% on all flights when you book with BmiBaby while England are still in the World Cup.
	Flights from £9.99 with Jet2 Get away this summer from as little as £9.99 one-way when you fly with Jet2.com.
	£1 Unlimited Bus Travel Get unlimited bus travel for just £1 a day with PlusBus when you take a trip by train this June.
	40% Off City Hotels at Hotel Connect Hotel Connect are running a huge sale on city hotels with up to 40% off.

Lifestyle

	1/3 Off Odeon Cinema Tickets Pay 1/3 less when you watch a movie at an Odeon cinema this month.
	Free Father's Day Card from Hephalump Get a free, personalised Father's Day card worth £3.48 from Hephalump.
	£5 for a 1 Hour PGA Pro Golf Lesson (worth £50) Get a 1 hour golf lesson with a PGA Pro for just £5 from KGB deals.
	£45 Worth of Benefit Make Up Free with Glamour Magazine Pick up a copy of this month's Glamour magazine (rrp £2) and you'll get one of Benefit's cult beauty products for free.

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