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????????????????What some believe was the root of the recession, sub-prime lending, is back and this time it’s in the form of a credit card fromided by Provident Financial. The Vanquis card is aimed at those with a bad credit history or consumers struggling to get credit elsewhere.

Over 1 million consumers have already signed up for the plastic wallet warmer that comes with an interest rate set at a whopping 60%. And that million is set to grow with around 2,700 new applications flooding in every day, including ones from the previously credit abundant middle class families. It’s no surprise that so many people are choosing the Vanquis seeing as UK consumer credit card debt has reached £61.5billion.

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