By submitting this application you understand that your initial credit limit will be at least $250.00 and the following fees will be billed to your first statement: Annual Fee of $48, Program Fee of $95, Account Set Up Fee of $29, monthly Participation Fee of $6, and an Additional Card Fee of $20 (if applicable). These fees will reduce your available credit until they are paid. You will be eligible for consideration of a credit limit increase in as little as 6 months. I have to pay $6.00 to have the privlilege to be charged interest. LOL!!!
Welcome tothe world of sub-prime. I have this card, yes, the fees suck, but it is one of my only 3 (2 on TU) positive TLs. Once I get my score where it should be and can get better cards, it will be sock-drawered.
Do you know what they told me when I called to close my account (after I paid it off)? They were trying to keep my business and offered to drop the percentage to 9%, but told me the $6/month fee was to report my information to the bureaus. I told them none of my other cards charged a fee to do that. Boy oh boy they were hard nosed about closing the card! Providian was the easiest, but these people were a pain in my woo hoo. Kept trying to tell me about FICO and card mixes and credit limits, etc. I've attended the Credit Talk University, so I didn't need another lecture. Kate
