The card has rather modest APR of 18.39 % and not so
high late fee of $ 27 comparing to other secured credit cards.
These could
include high late fees, penalty interest rates, or even seizure of loan collateral (like repossessing a car).
The number of consumers with bad credit has grown in recent years and its well known that one late payment on a credit account can result in high APR as well
as high late fees added to the debt balance.
Also, because they're exempt from the consumer protections offered by the federal Credit CARD Act, you might be
charged higher late fees or have your APR suddenly hiked up (though many issuers extend consumer - friendly terms to their business cards).
In addition, consumers with less education and lower incomes were more likely to receive riskier credit card offers,
with higher late fees and penalty APRs.
It has a high annual percentage rate (27.99 %) and
high late fees, and the points expire after 12 months.
It is tempting to go straight to a traditional lender, but their terms are usually very strict, with high interest rates, low loan limits and
high late fees charged.
Will the terms of consumer credit improve (lower interest rates, more frequent flyer miles) or worsen (
higher late fees, more invasive collections practices)?
It has a high annual percentage rate (27.99 %) and
high late fees, and the points expire after 12 months.