2006-10-20 05:01:07 · 17 answers · asked by tk 1 in Business & Finance ➔ Credit
It's AWFUL. Don't go for it.
2006-10-20 05:03:32 · answer #1 · answered by MOM KNOWS EVERYTHING 7 · 0⤊ 0⤋
I am going to tell you a little story to emphasize how terrible it is. I got hosed on a car loan....bad a $4000 loan with a 29% interest rate. I payed on the loan for 8 months and didn't even pay 400 (with payments of 250 a month) towards the principle of the loan.
OUCH!! Luckily I got out of that situation and the company I got my new car from valued my car as a wash so I'm not upside down. But be careful before you sign on the dotted line! I knew 29% was bad but I didn't realize until I saw it in writing. This is how these credit card companies make their money!! Be very careful so you don't get screwed!!! Good luck!
2006-10-20 05:17:26 · answer #2 · answered by Me, again 6 · 0⤊ 0⤋
Pretty bad. Usually if you have young credit you kinda have to bite the bullet just ot get your credit score up. You can get the card and pay the charges before 26 days and then you'll miss the finance charge, and still build your credit. Or you can just wait. Try Chase they have awesome deals.
2006-10-20 05:07:19 · answer #3 · answered by KMGSP 2 · 0⤊ 0⤋
Very bad!! Get one that starts at 0% APR. Unless you pay the entire amount each month, if you do that you wont be charged any interest at all.
2006-10-20 05:08:49 · answer #4 · answered by Melissa 7 · 0⤊ 0⤋
Terrible, that is way too high... Pay it off and try to transfer it to a different bank with a lower rate... Don't close the account though that will drop your credit score a few points..
2006-10-20 17:19:42 · answer #5 · answered by OldSchool 2 · 0⤊ 0⤋
if U are paying 24% APR Ur credit is real bad...... what ever U buy will cost a whole lot more..... if U can get a co-signer and keep Ur payments up.... that will help Ur credit score....
2006-10-20 05:10:59 · answer #6 · answered by ? 3 · 0⤊ 0⤋
It will make purchaes very expensive indeed. Try to avoid using a crd with that sort of interest rate unless you can pay it off in a month or two.
2006-10-20 05:04:12 · answer #7 · answered by skip 6 · 0⤊ 0⤋
29.99% is the worst I've seen 19-24% is more common then people make it out to be-- its sort of standard. You want below 12%.
2006-10-20 05:05:55 · answer #8 · answered by Anonymous · 0⤊ 0⤋
As bad as it gets. Stay away.
2006-10-20 05:09:35 · answer #9 · answered by Anonymous · 0⤊ 0⤋
RUN and apply for another card thats way too high!!!
2006-10-20 05:09:50 · answer #10 · answered by Anonymous · 0⤊ 0⤋
that is a horrible rate- one of the worst.
2006-10-20 05:03:55 · answer #11 · answered by Anonymous · 0⤊ 0⤋