topic Re: CNN Money story about "Credit Cards From Hell" in Credit in the News

CNN Money story about "Credit Cards From Hell"

pozativelyliving — Thu, 19 Jul 2012 03:12:09 GMT

Came across an interesting story -

http://money.cnn.com/galleries/2011/pf/1102/gallery.worst_credit_cards/index.html

Re: CNN Money story about "Credit Cards From Hell"

jordanmedical — Thu, 19 Jul 2012 04:02:11 GMT

nice

Re: CNN Money story about "Credit Cards From Hell"

trumpet-205 — Thu, 19 Jul 2012 04:15:24 GMT

Visa Black card is on the list? :smileyvery-happy:

My JCP card is also on the list, should I ditch it? :smileywink:

Re: CNN Money story about "Credit Cards From Hell"

jsucool76 — Thu, 19 Jul 2012 04:30:16 GMT

I didn't even know about the visa black card. Seems like a total rip off...lol, "1% on airfare purchases", and then access to VIP lounges at airports...for 495$ a year? My card gets 1% cash back on...everything, for no AF...if I was gonna spend 495$ a year on a card, I would get the amex platinum. lol.

Re: CNN Money story about "Credit Cards From Hell"

pozativelyliving — Thu, 19 Jul 2012 04:37:34 GMT

Do all JCP cards have an apr of 26.99%? I have a pre-approved app but it didn't list that info.

Re: CNN Money story about "Credit Cards From Hell"

trumpet-205 — Thu, 19 Jul 2012 04:41:54 GMT

pozativelyliving wrote:
Do all JCP cards have an apr of 26.99%? I have a pre-approved app but it didn't list that info.

All do.

Re: CNN Money story about "Credit Cards From Hell"

marty56 — Thu, 19 Jul 2012 08:45:18 GMT

Sadly BofA did not make it on the list:smileysad:

Re: CNN Money story about "Credit Cards From Hell"

bettercreditguy1 — Thu, 19 Jul 2012 11:38:00 GMT

Interesting article. Goes to show, those whom are down on their luck, could possibly be shoved a little lower. Do be careful of any credit card companies residing and issuing credit in South Dakota, as they have no limit on user/monthly fees and almost limitless credit apr over 55%. At 55% apr, a $100.00 balance would grow to $200.00 in one year and four months. Talk about going backwards fast! Folks, beware and informed! It is YOUR money they are accepting/taking.

Re: CNN Money story about "Credit Cards From Hell"

RockinRay — Thu, 19 Jul 2012 12:54:16 GMT

I did not see CAP 1 on their list which I find interesting based on threads I have read here...

Re: CNN Money story about "Credit Cards From Hell"

FrugalRican — Thu, 19 Jul 2012 12:59:21 GMT

I don't like it when cards get called out based on APR. I get the annual fee, processing fee, whatever fee... but really, the APR?

Almost any store card is going to have an APR of 25%+. That's a given. Don't carry a balance. Simple.

I wish they did an article with "Mainstream credit cards from hell". Some of these are so off-the-wall and I'm sure most "knowledgable customers" wouldn't touch those with a 10 foot pole... then again, there is a reason they still exist.

And why are all these articles nowadays making me click 9 times to read the whole thing! Argh!

Re: CNN Money story about "Credit Cards From Hell"

bettercreditguy1 — Thu, 19 Jul 2012 13:05:37 GMT

+1 to everything you said Frugal Rican. NEVER charge anything that you do not have the money to pay for when the statement comes.Credit can be your friend or your enemy!. Credit for some, can enhance a false sense of financial security and allow them to live beyond their means.Constraint and common sense to ALL!

Re: CNN Money story about "Credit Cards From Hell"

Quips — Wed, 25 Jul 2012 16:46:20 GMT

+1 as well for Frugal Rican's comments. APR only matters if you don't PIF. And I give a +1000 on having to click 9 times to read the whole article - that is the most infuriating thing on all of these "10 most" type lists.

Re: CNN Money story about "Credit Cards From Hell"

CS800 — Fri, 27 Jul 2012 18:50:26 GMT

FP has a 59.99% APR ????????

Who in their right mind would want that? I mean get a secured card from a reputable bank at this point.

Re: CNN Money story about "Credit Cards From Hell"

trumpet-205 — Fri, 27 Jul 2012 18:54:31 GMT

CS800 wrote:
FP has a 59.99% APR ????????

Who in their right mind would want that? I mean get a secured card from a reputable bank at this point.

They used to have 79.99%.

In Brazil, APR can be as high as 250%.

Re: CNN Money story about "Credit Cards From Hell"

maiden_girl — Wed, 01 Aug 2012 17:31:49 GMT

I didn't know you could have an APR at 59.99%! That's suicide!

Re: CNN Money story about "Credit Cards From Hell"

CS800 — Wed, 01 Aug 2012 19:13:27 GMT

trumpet-205 wrote:
CS800 wrote:
FP has a 59.99% APR ????????

Who in their right mind would want that? I mean get a secured card from a reputable bank at this point.
They used to have 79.99%.

In Brazil, APR can be as high as 250%.

Pheww i'm relieved that they are now at 59.99. I can sleep better now ;)

Re: CNN Money story about "Credit Cards From Hell"

jllunas — Sun, 19 Aug 2012 01:26:05 GMT

This really should be illegal!

Re: CNN Money story about "Credit Cards From Hell"

compassion101 — Tue, 21 Aug 2012 05:31:03 GMT

"On top of the high rate and fees, the issuer doesn't give customers any grace period, which is the time between the date of a statement and the date interest begins accruing"

Wow. I thought they were obligated to give a grace period legally. So then why does every other card give a grace period, is it simply market competition that could some day change?