Sometimes credit card offers just make me scratch my head in wonder

[skygazer]

Got one today - an offer for a credit card with a limit of $300 (oh, boy :eyes: ). And when you read the terms and conditions, you find -

One time acceptance fee - $119
Annual membership fee - $50
Monthly periodic participation fee - $72 spread out in monthly $6 payments


Which means that you start off with a whopping $125 worth of credit. And there are poor saps out there who only see the big, "YOU'RE PRE-APPROVED!!!1" on the envelope and accept the damn thing.


I hate credit card companies.

[Deja Q]

1. As the song goes,

Money for nothin' and your chicks for free

[skygazer]

2. Only in this case it's money for even more money

than you end up with. Or something like that.

[Gormy Cuss]

3. Preying on the desperate, I'd guess.

If your credit is terrible this pay-to-play make look like a good deal because it's SOME credit, I suppose.

I'm not fond of credit card companies myself.

[skygazer]

4. I got my first credit card when I was over 40

My theory was always that if I didn't have enough money to pay for something, I shouldn't be charging it. But maybe that's my Yankee upbringing.

I think it's sad - they really do prey on people who are down.