The World’s Worst Credit Cards

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What’s in your wallet? Hopefully, not one of these credit cards.

Cardhub has released a list of nominees for the worst cards on the market. I was assuming the credit cards here would be heavy on products that prey on people with bad credit, with awful fees and high APRs. At least one card on the list fits that description:

The First PREMIER® Bank Credit Card – This partially-secured credit card requires that you place a $95 security deposit to get a $300 credit line, and has a 49.9% APR, a $75 first-year annual fee, and $120 in membership fees each year thereafter.

But the list also includes a piece of plastic promoted to the rich (or wannabe rich) as “The World’s Most Prestigious and Versatile Credit Card.” It’s the Visa Black Card, which comes with an annual fee of $495. In exchange for that, customers get 1% cash back on all purchases—something that many, many cards offer, and some surpass with period 5% cash back on certain purchases. The Black Card’s “exclusive privileges” also include a vague promise of “luxury gifts,” as well as “limited membership” (wonder how much you have to pay for full membership) and the sleek “patent pending carbon card” itself.