consumerist.com— Golb at Money, Matter, and More Musings has located the worst credit card in the world. It is designed to prey on subprime borrowers who, sadly, cannot get a better card...
Sep 10, 2007View in Crawl 4
The UK is an exception to the rule. At least as far as I know. I'm Dutch, life in Belgium now, use to live in Germany and in these three countries and the Scandavian countries you use primarily debit cards. Credit cards are mostly used for restaurants and online purchases.
I really hope you're f**king kidding about the 'rewards' 'cash-back' bulls**t. When you buy s**t on a credit card you are paying MORE than what the price tag says. If you are paying only the minimum payments then you are paying a LOT more than what the price tag says. Don't let them trick you with some bulls**t cash-back scheme, they give you a buck for every hundred bucks they get from you for the privilege of being able to buy s**t through them. Credit cards aren't inherently evil, but the companies are allowing minimum payments far less than they should be, so people are effectively paying just a small fraction of what they owe... most of the money you give a credit card company goes to paying off interest. They are worse than a high risk loan if you're just making the minimum payments.
Well of COURSE credit cards are going to f**k you over if you're an idiot that only pays the minimum due each month. That's the individual person's fault. For the rest (intelligent) of us folk that pay the balances in full each month, those points/bonuses are plusses for purchases that don't cost a cent more paying with cash.
I recently got charged, with a "you haven't used your card enough" Citibank fee of about $140.This from a card that advertised no fees (terms and conditions subject to change at any time - clearly).I kept it as an emergency card, and because I hadn't ever used it, I got lumped with the fee.Fees keep going up on all credit cards, and the terms & conditions are getting more and more ridiculous. In a few years, this card will look good.
It's hard to find a good credit card through the mail offers you get everyday... You never really know what you are going to get.. They change the APR on you once you apply or opt to transfer a balance.. I found a great website to really compare credit cards and find the right one for me.. It's called credXperts.com (<a class="user" href="http://credxperts.com),">http://credxperts.com),</a> they have the largest list of credit cards available on internet, over 200 cards!
That is a bad card.Most people I know that don't like credit cards are people that can't get one.They are a must today,as they build equity in your whole financial picture.If your trying to rebuild your bad credit score go with a secured card that reports to all 3 credit houses.Thats my 2 cents...uh with 23% interest,plus late comment fees.........
Every credit card has its ups and downs. The CFMM does seem to be the worst, unfortunately. You need to compare credit cards before applying. As zdiggler previously commented, credit card companies are targeting 18 year olds due to most young adults do not have the knowledge and experience. If you live in Australia and require a credit card comparison chart, head over to - <a class="user" href="http://www.creditcards.com.au/compare">http://www.creditcards.com.au/compare</a> - They're credit cards compare page is invaluable to anyone.Pokey.
infinitenothingSep 11, 2007
You do realize that was only an example to point out that it was not impossible right?
1nhumanSep 11, 2007
The UK is an exception to the rule. At least as far as I know. I'm Dutch, life in Belgium now, use to live in Germany and in these three countries and the Scandavian countries you use primarily debit cards. Credit cards are mostly used for restaurants and online purchases.
zigviciousSep 11, 2007
yeah, it's called a debit card.
squigglypSep 11, 2007
I really hope you're f**king kidding about the 'rewards' 'cash-back' bulls**t. When you buy s**t on a credit card you are paying MORE than what the price tag says. If you are paying only the minimum payments then you are paying a LOT more than what the price tag says. Don't let them trick you with some bulls**t cash-back scheme, they give you a buck for every hundred bucks they get from you for the privilege of being able to buy s**t through them. Credit cards aren't inherently evil, but the companies are allowing minimum payments far less than they should be, so people are effectively paying just a small fraction of what they owe... most of the money you give a credit card company goes to paying off interest. They are worse than a high risk loan if you're just making the minimum payments.
tehpwnrateSep 12, 2007
*woosh*
Closed AccountSep 12, 2007
Well of COURSE credit cards are going to f**k you over if you're an idiot that only pays the minimum due each month. That's the individual person's fault. For the rest (intelligent) of us folk that pay the balances in full each month, those points/bonuses are plusses for purchases that don't cost a cent more paying with cash.
mathSep 12, 2007
I recently got charged, with a "you haven't used your card enough" Citibank fee of about $140.This from a card that advertised no fees (terms and conditions subject to change at any time - clearly).I kept it as an emergency card, and because I hadn't ever used it, I got lumped with the fee.Fees keep going up on all credit cards, and the terms & conditions are getting more and more ridiculous. In a few years, this card will look good.
cindyreditJan 22, 2008
It's hard to find a good credit card through the mail offers you get everyday... You never really know what you are going to get.. They change the APR on you once you apply or opt to transfer a balance.. I found a great website to really compare credit cards and find the right one for me.. It's called credXperts.com (<a class="user" href="http://credxperts.com),">http://credxperts.com),</a> they have the largest list of credit cards available on internet, over 200 cards!
bluesapphireMar 23, 2008
Yes, the worst. I burst out laughing when I read the terms!
moneymingleMar 31, 2008
Sad to know of these tactics and the sad fact is there will be many more to come.
plasticplanetApr 24, 2008
That is a bad card.Most people I know that don't like credit cards are people that can't get one.They are a must today,as they build equity in your whole financial picture.If your trying to rebuild your bad credit score go with a secured card that reports to all 3 credit houses.Thats my 2 cents...uh with 23% interest,plus late comment fees.........
jajohnsonAug 28, 2008
more on credit cards...www.simplyfinance.co.uk/Debt/Debt-Management.html
pokey5Sep 15, 2008
Every credit card has its ups and downs. The CFMM does seem to be the worst, unfortunately. You need to compare credit cards before applying. As zdiggler previously commented, credit card companies are targeting 18 year olds due to most young adults do not have the knowledge and experience. If you live in Australia and require a credit card comparison chart, head over to - <a class="user" href="http://www.creditcards.com.au/compare">http://www.creditcards.com.au/compare</a> - They're credit cards compare page is invaluable to anyone.Pokey.
arthereJan 15, 2009
That is one terrible credit card. I'm surprised the <a class="user" href="http://www.creditcardassociate.com/circuit-city.html">http://www.creditcardassociate.com/circuit-city.ht ...</a> wasn't mentioned.