should I get a credit card with?

Question

I was signing up for a credit card cause it will help build your credit but the
visa!Classic
Annual Percentage Rate
for Purchases (APR): 19.92%

Other APRs: Cash Advance APR: 19.92%

Fees for Issuance or Availability of Credit: Account Set-Up Fee: $99.00 (one-time fee)
Program Participation Fee: $89.00 (one-time fee)
Annual Fee: $49.00
Account Maintenance Fee: $120.00** (annualized)

Grace Period for Repayment of Balances for Purchases:
Not less than 25 days from the Statement Date if the prior month’s balance was paid in full by the Payment Due Date

Method of Computing Balance for Purchases:
Average Daily Balance (Including new Purchases

Minimum Finance Charge: none
Transaction Fee for Foreign Currency Transactions:
2% of any transaction made in a foreign currency that is converted to U.S. Dollars by Visa or MasterCard

Transaction Fee for Cash Advances:
3% of the amount of the Cash Advance, but not less than
$5.00***
Late Payment Fee: $30.00

Overlimit Fee: $30.00

Do you think that this is a good plan. Should I sign up for this credit card? Or no?

Answer 1

Absolutely not! That's $357 charged on the card before you ever receive it. I suspect that might just put you over the credit limit.

Go to your bank and see about a secured card. Put the $300 in a deposit as collateral for the credit card.

Answer 2

Holy crap that is horrible!

You fees alone will be $360 the minute you open it.

And if you can't pay the $360 IN FULL the first month, you will begin being charged 20% interest.

How much credit are they going to give you for all the money you are giving them?

Do yourself a favor and save the $360 this card would cost you, then call Washington Mutual and ask about getting a credit card where you send them the money and they allow you to charge up to the amount in savings. If you pay it as you should you can figure they will begin upping your credit limit after 6-9 months. Normal fee for this? $29 a year and 18-22% interest.

Good luck, you really need to find a friend that is business savvy to help you.

Answer 3

I wouldnt sign up for any at all, its basically all just a scam, they prey on the fact that you will find reasons that you have to use the card, they will require you to pay low monthly payments that never deplete the balance by very much, its easy to say im going to get it for building credit , use it a few times and pay it off every now and then but what happens is due to the fact that it is there, it starts accumulating a large balance, as your life gets more expensive its harder to pay large payments, and then they have you hooked, they want you to pay them interest for the rest of your life.

Answer 4

hmmm. look for an offer with 8 months no interest or something better. the interest rate is about the same as all of them, but there should be an introductory 0% interest rate. when the 0% is up, switch cards to another with 0%. ive been really happy with my American express card, my visa has been a little trouble however.

Answer 5

get a pre-paid credit card!

Answer 6

Go to: http://www.credit-card-gallery.com/American_Express.html and get a best credit card according to your choice.