Bad debt credit cards perpetuates bad habits
October 29, 2008 on 5:25 am | By admin | In MiscellaneousThe offers for credit cards to people with bad debt simply perpetuates the reason these people are in debt in the first place. Giving someone a credit card who has not managed their debt and finances wisely is like giving a loaded gun to a serial killer. They will do more harm than good. However, these credit card companies have designed cards that are specifically for people with bad debt. The credit limits are low, usually as little as $150. The interest rate is high, always in the double digit range. And the fees can be as much as the credit card limit.