People with bad credit who try to improve their score by signing up for “subprime” credit cards could be doing themselves more harm than good.
Personal-finance company NerdWallet analyzed 10 popular “subprime specialist issuer” cards (SSIs), which are marketed to people who have low credit scores and may have difficulty getting a regular credit card. On average, they cost consumers more than $ 150 a year in annual fees, application fees and maintenance fees, NerdWallet found.
“A lot of people don’t understand how subprime cards…
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