My little corner on bad credit credit cards
Let's make sure that doesn't happen. The first tip is not to let the big, bright "0 percent interest rate" on the front of the brochure fool you. That's nothing but an introductory rate. After as little as six months, it goes poof, and suddenly everything you charged to the card is accruing interest at the card's real interest rate. Student credit cards typically have somewhat higher rates, currently running from about 13 percent to about 20 percent, with default rates that shoot up to about 25 to 31 percent if you pay a bill even a day late.