What does Subprime Credit Card mean?
Typically targeted for the un-banked or the “under-banked”, these types of cards come to be a solution which many people undertake. There is special attention needed with the annual fees, maintenance fees and other types of fee these cards do charge. Even if there is a relatively low APR, the other fees might be higher than those charged with regular credit cards.
For example, you might find an offer of subprime credit card which has an APR of say 19% and an annual maintenance fee of $50; however you might want to opt for the secured subprime card option which charges say the same maintenance fee, but much lower APR. This is why you need to have a look at more offers on the market before you come to a final decision.