People with bad credit have learned to live with a low FICO score: they’re denied most rewards credit cards and have to swallow lower credit limits and higher interest rates. Conditions have only worsened.
In the first quarter of 2010, interest rates for those with bad credit spiked from 15% to 25%. But while having poor credit has always meant accepting worse terms, there are some terms that should just never be ok.
Below are a selection of credit cards that everyone should avoid, no matter how bad their credit.
The Bad Guys
The First Premier cards: First Premier Bank gained notoriety with their 79.9% APR credit card, which was then replaced by a card with “only” 59.9% interest. The latest iterations of their sky-high interest rate cards are the Aventium and Centennial credit cards.