World’s worst credit cards

27721_10150181796415635_622995634_12514567_6121955_n.jpg (707 KB)

Gotta love infographics.


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    Dreth

    Worst Credit Card Mistake:

    Getting one.

    The Matrix: Rebooted

    Nonsense, there’s lots of valid reasons to get a credit card. Just read the fine print and don’t be an idiot.

    Dreth

    NO U

    Zasz

    Good luck getting a loan for anything significant.

    No credit is just as detrimental as bad credit.

    Dreth

    Don’t buy expensive shit.

    nyoki

    Gotta have one to do some things. I have to rent a car to go to my middle son’s wedding and w/out a credit card, I simply can’t.

    Dreth

    Buy the damn car.

    nyoki

    We have vehicles, but none of them are big enough for all of us to drive in for 8-10 hrs. So, I’ll get a mini-van and we’ll all go up together.

    PathogenAntifreeze

    So how about a best cards infographic? I make well over $500/year from just using my cards in place of cash for everything possible. The trick is having enough discipline to spend only what you normally would and to pay it off every month. Bonus is good credit.

    Stonestead

    I’m completely with Dreth. Haven’t had a credit card in almost a decade and haven’t missed it at all. It’s so nice to have cash, (and yes, I’ve got hotels, airline tickets and rental cars with just my debit card) and since I have no payments, I have plenty of it!

    nyoki

    True, but that adds up in holds. If I rent a car for 4 days, that’s a $400 hold; hotel for 3 days, another $400. The restaurant for the rehearsal dinner, $1000…or I could just give them my credit card. Debit cards are not guaranteed money for a merchant, a credit card is. So, they put huge holds on your checking account, if you use a debit card. I don’t generally keep much money in my checking acct and certainly don’t want to keep several thousand dollars in there, even if I have it.

    PathogenAntifreeze

    You lose out on the legal protections that were put in place for credit card holders. With a credit card, if someone steals your info and makes fraudulent charges (often they steal it from third parties, not you), the most you are legally liable for is $50, and most credit card companies waive that. With a debit card, no such legal protection exists. If they empty your account with a debit card transaction, and your bank / provider doesn’t have some nice perks generously written to cover you in those events, you just lost all that money. As for payments… Read more »

    Stonestead

    Sorry, Patho. ANY card branded with the MasterCard or Visa logo – Debit or Credit – carries the same exact fraud/theft protection. And between user fees, annual fees, non-use fees, over-limit fees, issuance fees, renewal fees, the threat of universal default, mis-applied payments et al., I seriously doubt you’re making what you think you are, and the 20K in my bank makes much more than just a few pennies interest every month. Nyokki – As for those holds, they seem rather high (READ: outrageous). Maybe you’re dealing with the wrong bank. Are you also upset that checks are now instantly… Read more »

    PathogenAntifreeze

    The Visa and Mastercard protection bit is news to me… that’s pleasant. As for fees, I pay none. One card I have is an Amex with no annual fee, but a requirement to maintain CostCo membership, which I was doing before I obtained that Amex anyway. That’s the closest thing to a fee involved. I don’t play with paper checks and mailing payments, and as a result, misapplied payments, etc… don’t get the chance to happen. Researching cards before signing up obviously pays off in terms of fees. There are plenty of cards with which *you* get paid and they… Read more »

    nyoki

    It’s not my bank; it’s the businesses. They don’t like debit cards when it’s unclear what the total amount will be. They don’t put holds (or a very small amount, just to check that the card is legit) on credit cards. Also, it does tend to take your bank much longer to credit you back when you make a claim of fraudulent, or over, charges, up to 30 days. My credit card reverses the charge immediately, while they investigate. Credit card issuers are tricky. They will attempt all kinds of things; fees, changing your rates w/out telling you, change the… Read more »

    hvymetal86

    Exactly how I use my Amazon/Chase card. I like the rewards and since I never put more on it than I can pay off at the end of the month I never carry a balance, never pay interest, and get some nice rewards.

    billcar50

    Um, I fail to see how this is a worldwide thing. What is it about Americans that make them consider their country to be the whole world?

    Inev

    Maybe the USA just happens to have the absolute worst credit cards in the world. But seriously, “World’s Worst” is an exaggerating expression in the US, and probably not indicative of the scope of the infographic.

    To actually answer your question, it’s probably our size, both physically and population-wise. /shrug