Friday, November 16, 2007

Our view on predatory lending: 'Fee harvester' credit cards scam vulnerable consumers (USATODAY.com via Yahoo! News)

The credit card solicitation to Chicago consumer Thelma Perryoffered "a credit limit of up to $1,500." What Perry would get,instead, was a $250 credit line that was worth far less.First came the $9 "processing" fee to accompany the application.Then the card issuer tacked on a $119 "acceptance fee," a $50"membership fee" and the first $6 installment of a $72 annual"participation fee" leaving ...

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[Source: Yahoo! News Search Results for credit cards]

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