Worst credit card in the century. You should always avoid that

 

Don't Be Fooled! Top 5 Credit Cards to Absolutely Avoid

Everywhere you turn, there are credit card offers tempting you with free travel, cash back, and other rewards. But beware! Some cards masquerade as your ticket to financial gain but actually land you in debt. This post reveals the top 5 credit cards you should avoid, ranked from "least bad" to "the absolute worst."

1. Starbucks Rewards Visa: A Love for Lattes Can Cost You

The Starbucks Rewards Visa might seem like a harmless way to fuel your coffee habit. But for a yearly fee of $49, you get:

• Stars, not cash back: Every dollar spent earns you "Stars" redeemable for rewards at Starbucks. While you can technically earn 11.5% cash back if you only buy lattes, that benefit only applies at Starbucks.
• Limited rewards: The bonus stars for signing up and prepaying are worth less than $200.
• Better options abound: Numerous cards offer cash back or travel rewards you can use anywhere, not just Starbucks.

Love your Starbucks fix? Consider a card with cash back categories that include groceries or restaurants. You can redeem that cash back for anything, including your next latte.

2. Credit One: The Sneaky Imposter

Credit One sounds similar to the popular Capital One, but it's a completely different company. Their cards, like the Capital One Platinum Visa, often come with:

• High annual fees: You'll pay a yearly fee despite getting minimal benefits.
• Low credit limits: Spending power is restricted, making it harder to build good credit.
• Unimpressive rewards: Cash back or travel rewards are minimal, making the card a poor value.

Do your research! Don't be fooled by similar-sounding names. Look for cards with better rewards programs and no annual fees for those with fair or limited credit.

3. Luxury Card MasterCard Black: Wishful Thinking, Not Real Luxury

The Luxury Card MasterCard Black tries to trick you into thinking it's like the prestigious Amex Black Card. The reality?

• Terrible rewards: A measly 2% cash back on airfare makes it a terrible travel card.
• Exorbitant annual fee: A whopping $495 annual fee wipes out any benefit from the meager rewards.
• Gimmicky marketing: They try to impress you with the card's weight, a shallow tactic to distract from the lack of value.

Luxury on a budget? Look for travel cards with better rewards programs and annual fees that justify the benefits.

4. The Verve Card: A Beginner's Nightmare

Marketed as a beginner-friendly card, The Verve Card from Continental Finance is anything but:

• Deceptive fees: A $99 annual fee is paired with a separate $120 yearly maintenance fee, totaling a shocking $220 per year.
• Credit score killer: Canceling the card to avoid the fees hurts your credit history, especially for beginners.
• Low credit limit: A limit of just $300 makes building credit difficult.
• Predatory penalties: Insane late fees add insult to injury.

Building credit? Look for student or starter cards with no annual fees and low credit limits you can easily manage.

5. The Most Outrageous: The 24 Karat Gold Plated MasterCard Gold Card

This card takes the crown for worst credit card ever. Don't be seduced by:

• Fleeting perks: Features like travel credits are common with many cards, and this card's high fees outweigh any benefit.
• Hidden Costs: A monstrous $995 annual fee makes this card an extreme financial burden.

Alternatives galore! Numerous cards offer travel rewards and airport lounge access for a fraction of the price.

The Bottom Line: Do Your Research!

Don't fall victim to a fancy name or tempting but ultimately useless perks. Before applying for any credit card:

• Research rewards programs: See if the rewards align with your spending habits.
• Compare annual fees: Make sure the fees are justified by the rewards.
• Check credit limits: Choose a limit that allows responsible credit building.

By being informed, you can avoid these credit card traps and find a card that truly benefits your financial goals.