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Credit cards with a $495 annual fee and a 49.9 percent APR are among the worst pieces of plastic on the market, according to a list released Tuesday by Card Hub, a credit comparison website.
Card Hub, which is run by Odysseas Papadimitriou, a former senior marketing director for Capital One, analyzed the rewards, interest rates and fees of more than 800 credit cards.
Four that Card Hub considers the worst:
Visa Black Card: It has a $495 annual fee and a 14.99 percent APR, and the only benefits it provides are 1 percent cash back on all purchases, airport lounge access.
First Premier Bank Credit Card: This partially-secured credit card requires a $95 security deposit to get a $300 credit line, and has a 49.9 percent APR, a $75 first-year annual fee, and about $120 in membership fees each year after.
Barclaycard Financing Visa Card: It doesn't have an annual fee, but offers no discernable rewards or a traditional introductory interest rate, Card Hub said. Instead, it has a 20.99 percent or 22.99 percent APR.
Wells Fargo Business Platinum Credit Card: Card Hub calls it "the worst business credit card on the market." Not only is Wells Fargo "one of the least transparent business credit card issuers," but the card has an interest rate between 9.24 percent and 18.24 percent, and is light on rewards and protections from arbitrary interest rate increases, Card Hub said.
Card Hub, which is run by Odysseas Papadimitriou, a former senior marketing director for Capital One, analyzed the rewards, interest rates and fees of more than 800 credit cards.
Four that Card Hub considers the worst:
Visa Black Card: It has a $495 annual fee and a 14.99 percent APR, and the only benefits it provides are 1 percent cash back on all purchases, airport lounge access.
First Premier Bank Credit Card: This partially-secured credit card requires a $95 security deposit to get a $300 credit line, and has a 49.9 percent APR, a $75 first-year annual fee, and about $120 in membership fees each year after.
Barclaycard Financing Visa Card: It doesn't have an annual fee, but offers no discernable rewards or a traditional introductory interest rate, Card Hub said. Instead, it has a 20.99 percent or 22.99 percent APR.
Wells Fargo Business Platinum Credit Card: Card Hub calls it "the worst business credit card on the market." Not only is Wells Fargo "one of the least transparent business credit card issuers," but the card has an interest rate between 9.24 percent and 18.24 percent, and is light on rewards and protections from arbitrary interest rate increases, Card Hub said.
