Most credit cards today have very attractive offers. These
offers include high sign up bonuses and rewards for every purchase. However,
there are some credit cards that you should avoid no matter what the cost. These
are known as the worst credit cards in the market based on their interest
rates, fees, terms, and general value to the customers.
Highest Interest Rate
According to CardRatings.com, if you do not want to pay an
incredibly high interest fee, you should stay away from First Premier Gold.
This is credit card offers 49.9% fixed APR. What’s more, you have to pay other
high charges including a monthly fee of $6.50 and $75 for your first year of
being a cardholder.
Most Unpleasant
Secured Credit Card
If you have bad credit, one of the best options that will
help you rebuild your credit history is to apply for a secured credit card.
However, it is wise to avoid Applied Bank Gold Visa Card. Most secured credit
cards will give you a grace period where they will keep you interest-free for a
limited time. This gives you the opportunity to save money that you can use to
pay for you existing balance after you made the transfer. This Gold Visa Card
is an exception. As soon as you start using it to pay for your purchases, it
also begins to accrue interest fees.
Another secured card that you should stay away from is also
from Applied Bank. The Platinum Zero is a deceiving credit card which claims
that there is no interest fee on all your purchases. The reality is that they
will put service charges on your account annually and this can cost up to $120.
Least “Premium”
Premium Credit Card
At first, you might confuse the Visa Black Card with the
Black Card from American Express, which turned into a status symbol for the
wealthy and powerful people. This is officially called the Centurion Card. On
the other hand, the Visa Black Card pales in comparison with the Centurion Card
even though they have similar looks. Although the Centurion Card has a huge
annual fee of $5,000, there are several perks including concierge services that
help users get hold of restaurant reservations and sporting events that have
already been booked.
The Black Card will charge the user with a $495 annual fee,
which may just be a fraction of the Centurion Card’s yearly charge. The big
disappointment is that you do not get as much perks as the AmEx card. Instead,
you have 14.99% APR and 1% cash back on your purchases. Such attributes can be
obtained with a cheaper credit card.
Embarrassing Credit
Cards
The World of Warcraft Visa was created to give rewards to
the players of the game. This provides 1 point for every dollar the gamers
spend and they can play for free when they reach 1,500 points. Such is
considered a waste since there are prepaid cards for the game that only cost
$10 a month. The Hooter’s Visa from Merrick Bank also offers below average
rewards. Five points for every dollar may be high but racking up 2,421 points
just for a mouse pad is not satisfying at all.
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