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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: Tell me about the Worst Credit Card Offer EV||Date: 9/17/2002 11:58 PM|
|Author: Michaelzehr||Number: 140196 of 308722|
A company whose name I recall as "premiere bank" used to have offers like this.
There was a $79 application fee, payable in cash. If you wanted an answer in a week they would rush it for another $25.
It was advertised as an "unsecured" card. But here's the kicker -- they charged you a refundable fee equal to your credit limit when you sign up. As you pay that down your available credit increases allowing you to charge things. If you cancel they credit that original charge back to you.
I think the account fee was payable at $9.95 per month, and the APR was 27%.
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