Comparing a high interest rate with forcing someone to be a prostitute? I love internet analogies.
The APR is clear for the person signing up for the card, there is 0 ambiguity about it. In fact, a 79.9% APR is much more clear and potentially cheaper than "initiation fees, admin fees, account maintenance fees, etc."
If someone is really trying to rebuild their credit, this card gives them a chance to do so FREE if they pay their bill in full and on time (recommended for rebuilding credit, unless you're an idiot). If I were in their shoes, I'd take that over paying $256 in fees for a $300 credit limit.
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Originally Posted by Homeslice
Good luck with collections, that's all I'm going to say.
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Exactly. They know that's a write-off already, so they have to make their money back in other ways.