Credit Cards for People With Bad Credit How to Avoid Getting Ripped Off
If you’ve ever had credit problems, then you’ve probably received offers for credit cards aimed at people with bad credit. These offers range from legitimate to questionable to outright scams. How can you tell the difference?
The answer is to read the fine print, usually to be found in a document called “Terms and Conditions.” To show you the difference between “the good, the bad, and the ugly” in the low-end credit card market, let’s take a look at the fine print associated with such offers.
We’ll start with one of the more popular low-limit “starter” cards available today. These are actual terms published by a major company at the time this article was written. The card comes with a Visa logo on it and looks like a regular credit card, so you can use it as an extra piece of identification when you’re booking a hotel room, renting a car, and so on.
In the “Terms and Conditions” document, the first thing we see is the annual percentage rate (APR), listed as 19.5%. That’s not a particularly...
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