I heard that they have hidden fees and Interest.
2006-09-27 05:04:03 · 6 answers · asked by John G 5 in Business & Finance ➔ Other - Business & Finance
We have a Capital One card, and after the initial 6-month, interest-free grace period, the interest rate goes up to more than 20% and if you are even a day late making your payment, they charge you $30, and if you go over your limit there is another $30 fee so yeah, it's legitimate, but the interest rate is outrageous and the other fees associated with it are ridiculous. Pay cash if you can.
2006-09-27 05:14:21 · answer #1 · answered by Kayla 4 · 0⤊ 0⤋
No, it is not a scam, but there are always hidden charges. I definitely recommend everybody get a credit card. You need to establish credit. The secret to credit cards is to pay off the total balance each month on time which will result in no interest fees and extra charges.
2006-09-27 05:13:08 · answer #2 · answered by Anonymous · 1⤊ 0⤋
no the credit card isnt a scam,they tell u up front. like late fees, annual fees,return check fees, and like all credit they charge interest rates.
2006-09-27 05:16:51 · answer #3 · answered by spades_intimidator 2 · 1⤊ 0⤋
all credit cards are a scam in my view. "secured" credit cards are the biggest scam there is.
2006-09-27 05:12:14 · answer #4 · answered by slippie 4 · 0⤊ 0⤋
All credit cards do its better to pay with cash.
2006-09-27 05:06:07 · answer #5 · answered by butterflyaht1 3 · 0⤊ 0⤋
Never get one unless you are desperate.
2006-09-27 05:11:34 · answer #6 · answered by brogdenuk 7 · 0⤊ 1⤋