Think your credit card is bad? How about a card with a $53 credit limit which charges you every time you make a payment?
I came across this article on April 1st and genuinely thought it was an April Fool's joke. Sadly, the article was released over a year ago. This card did actually exist (the bank who offered the card have since removed it from their product line. Their website states the card is "currently unavailable while major program updates and improvements are being made.").
The Continental Finance MasterCard offered the following features:
- Account setup fee: $99
- Program participation fee: $89
- Annual fee: $49
- Account maintenance fee: $120 (charged @ $10/month)
- Purchase rate: 19.92%
- Authorized user fee: $30
- Credit limit increase fee: $25
- Internet payment fee: $4 for each authorized internet payment.
Not surprisingly, Continental Finance have been the subject of many consumer complaints.
Source: Consumer List - The World's Worst Credit Card
