Established Contributor
bettercreditguy1
Posts: 749
Registered: ‎02-11-2012
Re: CNN Money story about "Credit Cards From Hell"

+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!

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Regular Contributor
Quips
Posts: 157
Registered: ‎03-05-2012
Re: CNN Money story about "Credit Cards From Hell"

+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.

 

FICO: EQ 769, TU 762 , EX ???

Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008
Re: CNN Money story about "Credit Cards From Hell"

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.




Valued Contributor
trumpet-205
Posts: 2,257
Registered: ‎11-11-2010
Re: CNN Money story about "Credit Cards From Hell"

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%.

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Valued Contributor
maiden_girl
Posts: 2,094
Registered: ‎12-29-2011
Re: CNN Money story about "Credit Cards From Hell"

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

The truth is out there...
FICO scores: 758 (EQ) 741 (EX) 768 (TU) 8/14 | Goal score: 750+ (all 3)
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Super Contributor
CS800
Posts: 6,548
Registered: ‎04-07-2008
Re: CNN Money story about "Credit Cards From Hell"

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 :smileywink:




New Contributor
jllunas
Posts: 74
Registered: ‎08-03-2012
Re: CNN Money story about "Credit Cards From Hell"

This really should be illegal! 

Transunion 698
Equifax 713
Experian 700
Goal Score 750
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Established Contributor
compassion101
Posts: 575
Registered: ‎06-06-2012
Re: CNN Money story about "Credit Cards From Hell"

"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?