Experts at EconomoyWatch.com singled out the world’s worst credit, cash-back and secured credit cards.
As credit card companies are battering consumers across the board with monstrous fees, high interest rates and disappearing rewards, you can still get a good deal on a card … just so long as you don’t chose one of these cards.
The world’s worst credit card is the Macy’s credit card, with its 23.99% interest rate. However, cards from J.C. Penney, American Eagle Outfitters, Gap, Brooks Brothers, J. Crew and Dillard’s all come in at rates over 20%. To get a good store credit card, get a card associated with Visa, MasterCard or American Express.
Money Return Visa Platinum Plus is the world’s worst cash-back card. The terms are no annual fee, 0% for six months on balance transfers and a whopping 10% cash rebate. However, the 10% cash back applies only if you carry a balance. And the annual percentage rate for carrying a balance ranges from 9.99% to 19.99%.
Lastly, make sure to pick a secured card other than New Millennium Bank Secured Gold Visa or MasterCard and New Millennium Bank Secured Platinum Visa or MasterCard. They are the world’s worst secured card.
Source: http://www.economywatch.com/economy-business-and-finance-news/the-worlds-worst-credit-cards.27-05.html
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Absolutly true.
I live in canada. I went to US to shop. My girlfriend wanted to buy some stuff from Macys and the sales rep asked me if I get Macys Card i will get 20% off on my purchase. So there i got stuck in the lure. I got the card and i wanted to pay it the same day and the lady said i can't. So after a week i went there and paid the outstanding. Everyone happy, I came back to Canada.
Same month I moved into a different apartment. So after few months i got all the mail from my old apt. I was shocked to see that my macys out standing was 56 dollers. First thing it is impossible to find there customer care no. off the internet. so i found it on my bill. (which is 1800-593-2543 just in case sombody needs it) then i called them the rep wavied off 36 dollers and asked me to pay 20. so went to a Canadian bank got a draft made for 7 dollers and paid 20 dollers for express draft because 4 days left in due date. And i asked the rep to close my account. One more time I was feeling that its all done. But noooooo.
After few days from my old apt mail i again got macy's bill of 26 dollers because my payment was late. this time i decided to go to the store and pay. so i went to Michigan and checked my due amont and date and paid a doller extra. But not yet.
One more time i got the bill for 2 dollers. This time i called Macys and asked them to do sumthing or i will file a law suite against them. and today they said that now my balance is zero. but i don't beleive that unless i see the document that he said i m gonna recieve in mail.
Never get macys card. espacially if you live in Canada. you won't save the money that you will end up paying to do Macys payment.