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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (96779)	4/21/2009 6:31:35 PM
From: tntpal	1 Recommendation Read Replies (1) of 116555

The worst credit card offers you’ll ever see Posted: Tuesday, April 21 2009 When Mike Templeton looked at the credit card application his college-aged son received in the mail, his blood started to boil. The card promised an attractive 9.9 percent interest rate, but there was a catch. Buried in the fine print was a list of fees that seemed almost comical. • Account set-up fee: $29.00 • Program fee: $95.00 • Annual fee: $48.00 • Monthly servicing Fee: $84.00 annually • Additional card Fee: $20.00 annually And then, at the bottom, was a sentence that it's hard to imagine someone could write with a straight face: "If you are assigned the minimum credit limit of $250.00 your initial available credit will be $71.00 ($51.00 if you select the additional card option)." Welcome to the world of low-credit score credit cards -- a destination more Americans are finding their way to as the economy continues to sputter and unemployment rises... complete article: redtape.msnbc.com

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