Is Green Dot Visa Credit Card ever other?
Rite Aid is selling these cards, but they appear impressively expensive to me.
Here is a breakdown of the monthly cost for the first year:
Fee: $4.95, Monthly Participation fee
Interest: $1.98, $200 symmetry maintain (a) 11.9% APR
Annual Fee: $5.83, 12-month amortization of $70
Activation Fee: $1.66, 12-month amortization of $19.95
Monthly Total: $14.43, Monthly cost of $200 credit
Annual Total: $173.15, Annual cost of $200 credit
Effective Annual Rate: 87%, Rate compensated on $200 credit
Granted these cards are aimed at nation beside no credit history, but these costs give the impression of being excessive to me. Even if you money your set off within full every month, the annual cost of the card is still very big.
I'm interested in opinion; is nearby any circumstance where on earth this is worth it? Thanks.
Answers:
No, lol, Discover will adopt almost anyone (albiet near a paltry chain of credit) and they enjoy none of those fees... Your interest rate may be greater next to copious cards written but as you put it you downfall up paying much more in the long run.
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Here is a breakdown of the monthly cost for the first year:
Fee: $4.95, Monthly Participation fee
Interest: $1.98, $200 symmetry maintain (a) 11.9% APR
Annual Fee: $5.83, 12-month amortization of $70
Activation Fee: $1.66, 12-month amortization of $19.95
Monthly Total: $14.43, Monthly cost of $200 credit
Annual Total: $173.15, Annual cost of $200 credit
Effective Annual Rate: 87%, Rate compensated on $200 credit
Granted these cards are aimed at nation beside no credit history, but these costs give the impression of being excessive to me. Even if you money your set off within full every month, the annual cost of the card is still very big.
I'm interested in opinion; is nearby any circumstance where on earth this is worth it? Thanks.
Answers:
No, lol, Discover will adopt almost anyone (albiet near a paltry chain of credit) and they enjoy none of those fees... Your interest rate may be greater next to copious cards written but as you put it you downfall up paying much more in the long run.