I got this mailer today to apply for a Reflex Visa (with no rewards):
Credit Limit: $500
APR: 30.49%
Annual Fee: $125 first year, $96 annually thereafter
Monthly Maintenance Fee: $120 annually (billed at $10 per month)
What sane person would sign up for this nonsense? This type of predation should be illegal. 
@Anonymous wrote:I got this mailer today to apply for a Reflex Visa (with no rewards):
Credit Limit: $500
APR: 30.49%
Annual Fee: $125 first year, $96 annually thereafter
Monthly Maintenance Fee: $120 annually (billed at $10 per month)
What sane person would sign up for this nonsense? This type of predation should be illegal.
What's sad is that this is how things are NOW, 8 years after CARD act reform. What they're doing is totally legal, because it still falls within the limits and rules enacted by the reform.
@DeeBee78 wrote:
@Anonymous wrote:I got this mailer today to apply for a Reflex Visa (with no rewards):
Credit Limit: $500
APR: 30.49%
Annual Fee: $125 first year, $96 annually thereafter
Monthly Maintenance Fee: $120 annually (billed at $10 per month)
What sane person would sign up for this nonsense? This type of predation should be illegal.
What's sad is that this is how things are NOW, 8 years after CARD act reform. What they're doing is totally legal, because it still falls within the limits and rules enacted by the reform.
And of course some of us are waiting for a certain administration to decide that the CARD Act was a stupid/evil anti-business job-destroying legislation that should be scrapped NOW. After all, if people choose to pay 125% APR and 2x CL in fees, why should the government prevent them....
Just another gem from Continental Finance.
Gardening until September 2025
@Anonymous wrote:Remember what P.T. Barnum said: "there is a sucker born every minute."
And 12 Million new Dum-Dums per day.
- Spangler Candy company
@Anonymous wrote:
@DeeBee78 wrote:
@Anonymous wrote:I got this mailer today to apply for a Reflex Visa (with no rewards):
Credit Limit: $500
APR: 30.49%
Annual Fee: $125 first year, $96 annually thereafter
Monthly Maintenance Fee: $120 annually (billed at $10 per month)
What sane person would sign up for this nonsense? This type of predation should be illegal.
What's sad is that this is how things are NOW, 8 years after CARD act reform. What they're doing is totally legal, because it still falls within the limits and rules enacted by the reform.
And of course some of us are waiting for a certain administration to decide that the CARD Act was a stupid/evil anti-business job-destroying legislation that should be scrapped NOW. After all, if people choose to pay 125% APR and 2x CL in fees, why should the government prevent them....
Well, they're dismantling Dodd-Frank as we speak, so expect ARM-only mortgages to make a huge rebound, since housing costs are outpacing incomes yet again. Can't wait for the next bubble to burst, so we can pick up a ton of rental properties for cheap.
@DeeBee78 wrote:
@Anonymous wrote:
@DeeBee78 wrote:
@Anonymous wrote:I got this mailer today to apply for a Reflex Visa (with no rewards):
Credit Limit: $500
APR: 30.49%
Annual Fee: $125 first year, $96 annually thereafter
Monthly Maintenance Fee: $120 annually (billed at $10 per month)
What sane person would sign up for this nonsense? This type of predation should be illegal.
What's sad is that this is how things are NOW, 8 years after CARD act reform. What they're doing is totally legal, because it still falls within the limits and rules enacted by the reform.
And of course some of us are waiting for a certain administration to decide that the CARD Act was a stupid/evil anti-business job-destroying legislation that should be scrapped NOW. After all, if people choose to pay 125% APR and 2x CL in fees, why should the government prevent them....
Well, they're dismantling Dodd-Frank as we speak, so expect ARM-only mortgages to make a huge rebound, since housing costs are outpacing incomes yet again. Can't wait for the next bubble to burst, so we can pick up a ton of rental properties for cheap.
What a great country we are living in!
@Anonymous wrote:I got this mailer today to apply for a Reflex Visa (with no rewards):
Credit Limit: $500
APR: 30.49%
Annual Fee: $125 first year, $96 annually thereafter
Monthly Maintenance Fee: $120 annually (billed at $10 per month)
What sane person would sign up for this nonsense? This type of predation should be illegal.
My "Reflex" on receiving this offer would cause my arm to spontaneously insert the thing into my shredder
@Anonymous wrote:
@DeeBee78 wrote:
@Anonymous wrote:
@DeeBee78 wrote:
@Anonymous wrote:I got this mailer today to apply for a Reflex Visa (with no rewards):
Credit Limit: $500
APR: 30.49%
Annual Fee: $125 first year, $96 annually thereafter
Monthly Maintenance Fee: $120 annually (billed at $10 per month)
What sane person would sign up for this nonsense? This type of predation should be illegal.
What's sad is that this is how things are NOW, 8 years after CARD act reform. What they're doing is totally legal, because it still falls within the limits and rules enacted by the reform.
And of course some of us are waiting for a certain administration to decide that the CARD Act was a stupid/evil anti-business job-destroying legislation that should be scrapped NOW. After all, if people choose to pay 125% APR and 2x CL in fees, why should the government prevent them....
Well, they're dismantling Dodd-Frank as we speak, so expect ARM-only mortgages to make a huge rebound, since housing costs are outpacing incomes yet again. Can't wait for the next bubble to burst, so we can pick up a ton of rental properties for cheap.
What a great country we are living in!
+1