Will they never learn? A company that offered payday loans so people could use the money to “put on a ‘Kiss Me Quick’ hat for the beach” was criticized today.
Cash Converters – which also offers longer-term loans and pawn shop services – sent a summer mail with the offending message.
The ad also suggested that the borrowed money could be used for a barbecue or to help parents with “kids to entertain.” But it was banned by the Advertising Standards Authority for encouraging frivolous spending.
“We considered summer vacation, entertaining the kids, buying a new barbecue and a ‘Kiss Me Quick’ hat for the beach to be purchases that were probably not considered essential purchases, and that references to them suggested that taking out a loan or some other kind of cash advance for them was something that could be approached lightly, “the ASA said in its decision, adding,” We considered that, suggesting that loans or other types of cash advance could be used to fund non-essential purchases., the ad encouraged frivolous spending. “
The ASA said any loan should only be taken out after careful consideration, and companies that extend credit should responsibly advertise these products.
The Authority told Cash Converters “to ensure that future advertising has been prepared with a sense of responsibility to consumers”.
He was forced to take action against a number of payday loan announcements this year.
Cash On Go – which trades as Peachy Loans – saw an ad banned after the Citizens Advice charity said the use of cartoon images on the ad was “irresponsible because it exhibited an attitude casual about the loan ”.
Ads for Loan Monarch, Spends4u, and Pounds to Pocket were also banned in July.
Last month, Wonga was banned from using a television commercial that did not tell borrowers about his annual interest rate of 5,853%. Earlier in the year, an advertisement was banned to suggest that the interest rate was “irrelevant”.
In fact, the struggling high-cost credit company hasn’t aired any TV commercials since the first half of the year and scrapped the puppets it used to flog its loans on TV.