2007-04-03 02:16:18 · 8 answers · asked by dave h 1 in Business & Finance ➔ Credit
Hi!
Of course....and many, many more fees. I know exactly the type of card you are referring to. It is not even a VISA/Mastercard card..but a membership card.
There are yearly (and perhaps monthly) fees involved..and you can only shop through their catalog. You must pay 25-50% upfront..which is normally more than you would pay if you bought the item at a major store.
Pass on this, please.
>>>Actually..if you look at a thread not too far below this one..you'll see exactly what this person is talking about.
Just as I said..it is a catalog card with a huge membership fee and monthly fees. The only thing you get is a catalog card and a prepaid VISA card. There is a $14.95 monthly fee as well...again...pass.
>>>>Low fees??? Right. Take a look:
>>>>Quote:
The enrollment fee for the Independence Plus basic membership is $14.95 which entitles you to the basic membership benefits for up to 30-days. If you do NOT mail to cancel, your account will then be debited for membership fees of $14.95 per month, until you cancel your membership.
If selected: you may choose to upgrade to the Platinum membership, which has a one time upgrade fee for only $159.95 and/or Credit Increase fee of $39.90. No refunds can be provided for any upgrade or credit line increase fees applied to membership.
>>>end quote
The person in this thread that said catalog cards have low fees never looked at these kind of cards before. I have and they are major ripoffs.
2007-04-03 02:21:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
An unsecured credit card does not require a deposit. A secured credit card does.
If it is a secured credit card, then yes, they want a deposit because that's how those ccs work.
2007-04-03 05:03:28 · answer #2 · answered by YSIC 7 · 0⤊ 0⤋
An unsecured credit card with a limit of 7500 is bascailly just your normal credit card. Unless they said they wanted a deposit.. you dont need to give them one.
2007-04-03 02:18:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
OK, everyone that has answered is partially correct. If the card is just a regular card and not a catalog card, then there should be no deposit required and most likely no fees or if there are fees they should be low.
If on the other hand it's a catalog card then there will be monthly fees and yearly fees and you would only be able to use it to purchase things from their catalog.
Read the fine print, it will tell you everything you want to know.
2007-04-03 02:37:24 · answer #4 · answered by ? 7 · 0⤊ 0⤋
That's just a regular credit card. . .if it's unsecured they shouldn't need a deposit.
2007-04-03 02:28:54 · answer #5 · answered by ShouldBeWorking 6 · 0⤊ 0⤋
Nope; unsecured means no deposit.
2007-04-03 02:19:33 · answer #6 · answered by wizjp 7 · 0⤊ 0⤋
Unsecured means just that--no money or collateral up-front.
2007-04-03 02:43:22 · answer #7 · answered by Still reading 6 · 0⤊ 0⤋
A life sentence.
2007-04-03 02:22:01 · answer #8 · answered by Norman M 2 · 0⤊ 0⤋