Today Cardratings.com, a credit card informational site, released a list of credit cards their team chose as the worst credit cards of 2011. There are several categories including highest interest rate, most embarrassing credit card and worst secured credit card.
Here are the worst credit cards of 2011 and a brief description of what makes them so terrible:
Highest Interest Rate: First Premier Gold – With an APR of 49.9% in 2011, this credit card takes the cake for charging way too much interest.
Most Deceptive Marketing: Applied Bank Platinum Zero – At first glance this secured credit card looks like a sweet deal advertising zero interest for life. But when you take a closer look, the annual fee if $120 per year is just like paying 24% if you carry a $500 balance and even more if you balance is less!
The Least “premium” Premium Card: Visa Black Card – This credit card is suppose to be a type of VIP card for big spenders but offers nearly the same benefits as other credit cards like the Chase Sapphire Preferred or the PENfed Premium Travel Rewards Card. It carries an annual fee of $495, which is just a fraction of what the American Express Centurion Card charges, but the real deal offers all the special treatment that the Black Card is lacking. It’s not a terrible card, but there are better cards out there for a cheaper annual fee.
Most Embarrassing Credit Card: World of Warcraft Visa – Cardratings.com thought about two different credit cards for this title….The Hooters Mastercard and the FNBO World of Warcraft Visa Card. In the end World of Warcraft won the contest for having an embarrassing rewards program that is nearly half of what most other cards offer. And for a lot of World of Warcraft players, it can be quite embarrassing paying for your lunch using a card with your character on the front. The guys from the office will surely eat that up! And with cuddly pandas being added to the list of character options, many are finding the game to be a real joke.
To read the entire article visit click here to visit the Card Ratings website.
As always, stay tuned to CreditCardsProfessor.com for more of the latest credit card news, great credit card offers and important cardholder updates.
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