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CNN Money story about "Credit Cards From Hell"

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bettercreditguy1
Established Contributor

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!

Updated scores 3/7/21 TU 849, EQ 829, Ex 818 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 11 of 18
Quips
Regular Contributor

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 ???

Message 12 of 18
CS800
Super Contributor

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.




Message 13 of 18
trumpet-205
Valued Contributor

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%.

Message 14 of 18
maiden_girl
Valued Contributor

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

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

As of 2017, rebuilding...
Message 15 of 18
CS800
Super Contributor

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 Smiley Wink




Message 16 of 18
jllunas
Contributor

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

This really should be illegal! 

Transunion 698
Equifax 713
Experian 700
Goal Score 750
HWLBA
Message 17 of 18
compassion101
Established Contributor

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?

 

 

 

Message 18 of 18
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