Outrageous Credit Card Offer (Full Version)

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Ps103 -> Outrageous Credit Card Offer (2/21/2008 4:14:25 PM)

I thought I had seen it all...now THIS

Note that this is a secured card--with *no* grace period and 19.5% interest[sm=aside.gif]

[edited--misspelled word in title[8|]--can't type for sour apples!]



peace77 -> RE: Outrageoius Credit Card Offer (2/21/2008 5:08:11 PM)

That is outrageous.

I've never heard of a credit card that charged you $35 or more to apply.

Then add $59 per year annual fee.

Say, "NO Thanks!!!"


Anne



ChoirDJ -> RE: Outrageoius Credit Card Offer (2/21/2008 5:24:22 PM)

LOL...now that is hilarious...sad thing about it is that some people will skim past the details and fall for "the deal of their lifetime".

Reminds me of a scam I fell for when I was 18 and desperate to get my hands on a credit card. The magazine add said all I had to do was send $20 for a Visa and $25 for a Visa and a Mastercard....must of have I big "S" on my forehead cause I sent the check. It was cashed right away and I waited patiently for 4-6 weeks...I am still waiting and never received it (lol).



Ps103 -> RE: Outrageous Credit Card Offer (2/21/2008 6:42:24 PM)

What gets me is that they are charging the fees and the 19.5% interest...for people to use their own money!

What gets me worse is that I am sure people will fall for this scam.[sm=angertalk.gif]



meg4 -> RE: Outrageous Credit Card Offer (2/22/2008 11:47:35 AM)

I got an offer like that one time. Surely nobody in their right mind would apply for one of those.



MrsTracy72 -> RE: Outrageous Credit Card Offer (2/22/2008 1:34:27 PM)

I am working on being debt free, and when that happens, I plan on only keeping one credit card and leaving it in my bedroom. I never want to use another credit card again. They can get outrageous, and one of the things about the offer you mentioned, is that if you are late on a payment even by one day, they will change your interest rate to something much higher. That is just insane.

I know it is the choice of each person to take the loan and pay the fees, but I do think that there should be limits on what they can charge you as far as interest on credit cards. I think that there would be less bankruptcies that way.

But this is worse, I saw an ad on tv that was offering loans to people who can prove they get a paycheck. In the end of the commercial (and I have had to watch it several times to get it) it stated that the interest rate was 99%. I thought that is what I saw the first time, but they only flash that page so everytime I see the commercial, I try to start reading further than I was before, and it did say that. Is that even legal?



peace77 -> RE: Outrageous Credit Card Offer (2/22/2008 2:29:08 PM)

quote:

it stated that the interest rate was 99%. . . . . . .. Is that even legal?


Actually, interest rates for payday or instant loan places are worse. They tend to charge from over 200% to 500% interest.
They can "get away with it" because they have been granted special exemption in 19 states and the District of Columbia.

IMO, the special exemptions should be lifted and interest rates over 21% should be outlawed.


Anne



TTABTG -> RE: Outrageous Credit Card Offer (3/7/2008 1:43:38 AM)

Check out this link Consumer complaints about New Millenium Bank

There are lots of people "not in their right minds". Sadly.



Ps103 -> RE: Outrageous Credit Card Offer (3/7/2008 12:00:55 PM)

quote:

ORIGINAL: TTABTG

Check out this link Consumer complaints about New Millenium Bank

There are lots of people "not in their right minds". Sadly.



Looks like some of those people never applied for the card, but NMB got hold of their bank info and took money anyway[&:]



SailorPizza -> RE: Outrageous Credit Card Offer (3/7/2008 6:20:44 PM)

I heard it best stated when a friend of mine said "Credit Cards are no more then Legalized Mafia"



car2ner -> RE: Outrageous Credit Card Offer (3/13/2008 6:47:49 AM)

I didn't use a credit card for years... worked on cash only. Was stunned to find out that a lack of credit history actually hurt me! I figured that being able to manage on a cash only basis would be GOOD! When I went through the process of getting back into the c.c. system, there were a number of scams like Milleniums.

We use credit cards but pay the bill off each month, no interest. The wonderful bank says, no payment due (but that means interest will be added) but we pay it off anyhow.

It is a good idea to make a small purchase on your credit cards each month and then pay it off. No credit history can influence things as unconnected as your insurance rating (wierd, huh) to paying bigger deposits on utilities and rental applications, and even job applications!



spiritchsr1 -> RE: Outrageous Credit Card Offer (3/19/2008 8:04:34 PM)

Well,

You know what they say; "There's a sucker born every minute". If anyone is dumb enough to apply for a credit card like the above mentioned, then I feel sorry for that person.

Stay away from credit card offers like those.

Spiritchsr1



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