5 signs of a predatory credit card

Choosing the right credit card can be difficult, especially if you have poor credit or are new to credit cards entirely.

Still, the yearly cost of holding on to a card shouldn’t be outlandish. Many decent ones for those with poor or thin credit offer a relatively low and manageable annual fee, often $50 or below. 2. Exorbitant interest rates If you don’t carry a balance month to month, then a credit card’s interest rate is irrelevant; you’ll never owe any interest. But financial hardship and other factors can make it necessary to carry debt, which can be convenient but expensive.

3. Low credit limits Some starter credit cards or unsecured cards for bad credit will advertise a credit limit range. The limit you qualify for will depend on your creditworthiness, but it’s worth understanding how a low credit limit can hamper you.

Source: Loan Digest (loandigest.net)

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