Fee Harvesting Credit Cards Trap Many In Debt

Fee harvesting credit cards are marketed so that consumers will not be able to tell the difference between the high interest rate and high fee cards and regular credit cards.

Fee-harvesting cards represent the the subprime credit card market, credit cards offered to people with low FICO scores or students just starting out with no credit. Sometimes borrowers think they are getting a financial life preserver, but it's really an anchor in disguise.

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