bad credit, here's the answer

[fasternyou929]

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.

Originally Posted by Homeslice

Good luck with collections, that's all I'm going to say.

Exactly. They know that's a write-off already, so they have to make their money back in other ways.

[karl_1052]

Originally Posted by fasternyou929

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.



Exactly. They know that's a write-off already, so they have to make their money back in other ways.

What if it gets sent to someone who is mentally incabable of understanding, but does it anyways?
In canada, they passed laws against interest rates like this.
http://www.paliareroland.com/pdfs/MB...ed%20Claim.pdf

And it is a criminal charge, not a civil charge.

[fasternyou929]

Originally Posted by karl_1052

What if it gets sent to someone who is mentally incabable of understanding, but does it anyways?
In canada, they passed laws against interest rates like this.
http://www.paliareroland.com/pdfs/MB...ed%20Claim.pdf

And it is a criminal charge, not a civil charge.

If someone is mentally incapable of understanding a binding contract, there are laws protecting them here in the US, too. As there should be.