Credit cards with 79.9% interest rate!!

[M&M's Mommy]

Would you have a credit card with 79.9% interest rate??

[InLimbo87]

This is Jessie...

Yeah, no thanks

I can't believe some people are that desperate to sign up for a credit card like that.

[AGonzalez]

Sorry but I complain about mine at 9.9% - 79%? They can keep it.

[bubbatd]

I refuse to charge if I can;t pay off monthly so have never paid any attention to interest ,

[wcladymacbeth]

It sucks... but it makes sense. They're giving that interest rate to people with really bad credit. People like this really have no other way to start rebuilding their credit. At least it gives them a chance, and hopefully they're responsible about it!

I have a friend who filed bankruptcy years ago. It was long ago enough that it doesn't show up on his credit report or whatever now, but he still can't get any form of credit because his score is SO low. He has a well paying job, but he can't buy a car let alone buy a house until something is done about his credit. Something like that would probably be one of his only options.

[FoxyWench]

my medical card is high at 13% and that was an emergency card,
i couldnt imagine EVER even considering a card with that kind of interest!!!

[release the hounds]

That is effin rediculous. This whole notion of "credit score" controlling everything is such crap. Remember the days when you had to have a good plan and a relationship to get money from a bank, and people backed you because they believed in your vision or plan. OR they knew you and where you worked and that you could take on a house payment.

Now it's some score that you have to pay money to see what is even going into getting that number. I'm sorry, but if it is so **** important to lenders, then THEY should have to pay for it, and since it is so critical to you, it should be free to see what is controlling your life.

I'm lucky now, I don't have credit issues. But man, it was tough for a while. This is just plain old robbery. 79%???? can't even believe it's legal.

[Doberluv]

Originally Posted by bubbatd

I refuse to charge if I can;t pay off monthly so have never paid any attention to interest ,

Same here Grammy. My credit cards must be paid off by the due date, in full, every month. If I can't afford it, I don't buy it. That's a sure fire way to get in the hole....paying any interest on credit card charges....(unless...what you purchase will return more than the interest you pay out.)