Skywalker:If you are paying 50% apr you obviously have a really bad credit history. I don't believe for a second that they will reduce this to 19.9% just because you are in debt to them by 2k. You need to read the small print. And you need to rethink spending money you haven't earned yet, and paying 50% for that 'help' !
I've had my Vanquis card for over two years. When I first got it, I had no credit history. Now, I'm actually getting pre-approved for credit cards with rates as low as 10%. The interest rate I receive from Vanquis actually means nothing to me. I pay my balances off in full each month, regardless of the amount I spend. Last time I paid them interest was roughly 8 months ago.
I'm more focused on building a great credit history, so when it comes to applying for a mortgage in the future, my chances will be greatly improved.