The WORST Credit Cards of ALL TIME | Worst Credit Cards of 2022

Would you ever consider signing up for a credit card that is going to cost you money, just to have access to use the credit card? And no, I don’t simply mean an annual fee which is common among the majority of mid-level and premium credit cards. The main difference between those credit cards are there is a value that offsets the annual fee. For example, the Amex Platinum has a high annual fee, but if it is the right card for your lifestyle, it can be pretty easy for you to offset the annual fee with the amount of credits that are available to you. This is not the case with the list of worst credit cards for 2022. In fact, the worst credit card ever on this list not only charges you an annual fee, it charges you a “program fee” just for being approved and opening the credit card account, a monthly fee (yes, this is in addition to the annual fee), a credit limit increase fee, and just to add a cherry on top of all of that, some of your fees can also increase as your credit limit increases. And if all of that wasn’t bad enough, the APR on this particular credit card is asinine! This list is a compilation of absolutely terrible cards that I was able to find online that in my opinion are credit cards to avoid at all costs in 2022 because they deserve to be deemed the worst credit cards of all time. Now, sit back, relax, and enjoy this absolutely terrible showing that I have for you all today.

Credit One Platinum Credit Card
Yes, you heard right, that’s credit one and not Capital One. Don’t get them confused, even though if you Google Credit One, the first hit that comes up is drum roll Capital One. And just a side note here, I actually clicked on the Capital One link although I knew exactly what I was searching for. No, not this Platinum Visa, not that Platinum Visa either, and no no no, not this platinum visa either. THIS Platinum Visa. And there lies problem #1, their credit cards share the same name so it is a little bit confusing! So specifically, we are talking about the Platinum Visa for rebuilding credit.
Annual fee of $75 for the first year, then $99 annually billed on a monthly basis (see, I told you some of these credit cards charge you monthly), authorized users card fee of $19/yr and what do they give you in return? 1% cash back on LIMITED categories. You don’t even get 1% cash back on all purchases. Just to understand how ridiculous this is, let’s do some quick math to see how much money needs to be spent to break even and benefit from the cash back (and trust me, it will be practically impossible to come out on top here, I’ll explain later). You would need to spend $9,900 in order to make $99 in cash back. And keep in mind, you aren’t earning 1% cash back on all purchases. The APR currently shows 23.99%, but it can vary based on the market and here’s this little statement. “If you are charged interest the charge will be no less than $1”. I like how they say “if”, because, it doesn’t appear to be an option. Interest is charged on purchases on the post date. Most credit cards out there give you a grace period between when you’re actually charged interest, but credit one doesn’t appear to offer such a thing.
This business is so bad (allegedly) that it currently has an alert posted on the Better Business Bureau’s page and it states “BBB files indicate that this business has a pattern of complaints concerning billing/collection issues. Complainants allege that this Credit One Bank charges consumers, sometimes repeatedly, without authorization, which may include late or unexplained fees. Complainants also allege that Credit One Bank forwards incorrect information to credit reporting agencies such as Equifax, Experian and TransUnion.”

Also on this list, first premier bank credit card, and applied bank visa credit card.