Tuesday, September 11, 2007

The Worlds Worst Credit Card

Meet the worst credit card in the world. It is designed to prey on subprime borrowers who, sadly, cannot get a better card...

Meet the Continental Finance Mastercard.


After all the fees have been collected, it has a credit limit of $53.
Account setup fee: $99
Program participation fee: $89
Annual fee: $49
Account maintenance fee: $120 (charged @ $10/month)
Purchase APR: 19.92%
Authorized user fee: $30 (great! seems like $53 credit is a bit too much for a single person to handle)
Credit limit increase fee: $25 (and you don't even have to ask for it!)
Internet payment fee: $4 for each authorized internet payment.

Damn. This card is shockingly awful. And to make matters worse: If you use this card to repair your credit history you're stuck with it because canceling the account will shorten your credit history and drop your score. What a headache.