Well, in the past six months, two things have happened to me. First, I nuked all of my CC's and picked up a low-interest consolidation loan, paying down to less than $2500 at present; and Second, I changed jobs and nearly doubled my take home pay. As a result, I've been besieged by CC offers. Yesterday, I received one of the most silly offers I've seen in some time: This card had the following terms:

(1) $50,000 credit line
(2) introductory rate of 6.9% for the first six <u>billing cycles</u>.
(3) then jumps up to 19.8% fixed rate, except in case of a late payment, at which point if jumps up to <u>24%</u> !!!!
(4) finance charge based on average daily balance for last two <u>two</u> billing cycles
(5) late fees, annual fees, over the limit fees, and,
(6) apparently a penalty in the form of retroactive higher interest if you transfer your balance before the end of the first year

All in all, I think this one is a stinker! Anyone else seen anything as bad as this lately? The scary part is the size of the credit line. The interest on a substantial balance not paid in 30 days could be simply brutal!