I got a Orchard Bank credit card today...(below) Please help with question?

Question

With credit limit if 300,I signed on to look before I activated the account and it shows my limit is 241 cause I have a fee of 59$.I'm ok with that cause that's how my capitol one account is.

But I want to know are there any other fees that I need to know about?

I read everything it came with and it just says the 59 so if there are more please tell me! Thanks

Answer 1

See what the finance %age rate is. Each month that charge will be added on to the amount you put on the card. If it's over 7% cut it up. It's not worth the $300. You'll end up paying back well over that amount over time.  

Answer 2

The word "platinum" on the card doesn't have any standard meaning, it varies between companies.  It's a buzzword they use to make people feel more important.

If you paid a deposit in order to obtain your card, then it is a secured card.  If not, it is unsecured.

It is not unusual for "sub-prime" credit cards to have a high upfront fee as well as a steep annual fee.  Be very careful never to pay late or exceed your limit, and with such a low limit that will be very easy to do.  Overlimit fees could be up to $10-$35 per transaction, and they will sock you with a huge bill without you even realizing it.

Answer 3

It sounds like Cap 1 is taking advantage of you. NEVER pay fees to have a credit card.

Everytime you use it the seller pays a fee to them .  

Answer 4

whats up with the dude in paydayl on every question I have read!