The year is coming to an end and depending on whether or not you believe the Mayan calendar, 2013 will be a fresh start. If you have credit cards or are planning to build your credit you might want to know what credit cards will work best for you.
We’re here to bring you and worst credit cards of 2012 according to Business Insider. Although all credit cards work to build your credit there were many that were fraught with crazy fees, interest rates, and more. Instead of thinking of these as the worst credit cards, maybe think of them as the ones to avoid in 2013.
- First Premier Bank Gold Credit Card – A popular card among those looking to rebuild their credit, the card has a $75 initial fee that drops to $45 per year after the first year, and then during the second year it drops to $6.25 per month. If you have this card for three years you’ll be paying about $200 just in fees, not to mention a 36.99 annual percentage rate and 25 percent credit limit increase fee.
- Visa Black Card – Although it has its perks, the card only provides 1 point per dollar which isn’t much considering it has an annual fee of $495. The regular APR is about 14.99 percent. Also, just because it says its black card doesn’t mean it’s THE black card you have heard about.
We have mentioned in the past that not all credit cards are bad, it just takes time and good research to find the one that is right for you. These cards on the other hand might be ones that are just best to avoid altogether.
