Explain how the imagine card works?
Answer:
What a rip-off They give you a credit line of $350, then automatically and immediately deduct $150. It leave you $200 to spend, but you pay the interest on $350. The minimum amount deducted each month will be one-half of your minimum payment.
Then you pay the following ANNUAL interest rates on the amount borrowed.
Purchases 19.75%
Cash Advance APR: 25.75%
Delinquency APR for Purchases: 25.75%
Delinquency APR for Cash Advances: 31.75%
The First Bank of Delaware was the one I pulled up, but the others would probably be similar.
-MM
Please, please, please..don't get that card. It is a rip off! They charge you $150 in fees.the interest rates are ridiculous. Also, every time you get a credit line increase, they charge you $25. It really isn't worth it. Your best bet would be to go with Orchard Bank MasterCard. I have nothing but good things to say about them.
Also, instead of a credit card, try putting extra money aside in a savings account that will gain interest. If you are looking to repair your credit, try paying off what you already owe instead of opening up another account. I take it since you are inquiring about Imagine credit card your credit isn't very good. You will end up wasting a lot more money by getting this card. Hope I helped!
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