BAD WOLF
haha makes topic doesn't understand the meaning of APR, classic.
If it takes you a year to pay off a $60 video game that you decided to put on credit I think you need to reevaluate your priorities.
Most retail credit cards for young people trying to build credit are generally that high. Most young adults are unreliable and extremely stupid and irresponsible so yea it kind of needs to be that high. I've got three credit cards, 2 retail and one just a regular credit card. All three a roughly the same interest rate. I've never seen an ounce of interest yet I continue to build credit. It's called being smart about it.
Also, where did you see confirmation that send you an active GameStop credit card when you hit 18? Outside of that video (which I skimmed through and was honestly pretty awful and filled with terrible information) I've not seen any credible information to support that. They will offer you a credit card, but you start getting mail offers from every credit card company when you hit 18. I've got a single credit card (not need for multiple) but I've been getting offers from every other company, and even from the company that I'm with, for more credit cards for over a decade.
Also...listening to the idiot in the video. His math sucks too. Over $100 for a $60 game if you take 6months to pay it off? TROLOLOLOL
By a law here this shady practice is banned. So if someone sends you a offer like this you can sue them. This is direct mail to person only.
However if they send you a cataloge and there is advertised for some card, then its fine.
As far as i know, every large company like wallmart asks you if you want a card every time you purchase something there. So i wont be suprised that game-stop does the same. Lets wait a bit and see what happens. Or just go read some youtube comments.
Don't sweat the details!!!
AHahahaha how is this a scam?
If you're stupid enough to buy anything with a 27% interest rate you deserve it.
MMO-C, home of the worst community on the internet.
It's illegal in a lot of places to send an active credit card. However, to send an offer for a card is perfectly legal.
We already know they're going to do the same. They're going to offer it to anyone who walks in and doesn't already have one.
Can you please cite your credible source for them sending an activated card to you when you hit 18 though? You make that claim and the only place I saw/heard that was the video, which again, was filled with a horrible amount of misinformation and terrible, uninformed opinions.
People being too stupid to understand interest rates =/= Scam.
OP, you really shouldn't be listening to some youtuber who knows nothing about APR and Credit Cards and trying to use his opinions to call out a business.
He's on Youtube lecturing about APR as if it's some monthly rate. Do these businesses target young adults? Yes. Why? Because it's where they make the most money. They have no credit. They are irresponsible. Gamestop isn't the only one's that do it. Every company does. I get between 1-3 credit card offers a day from various places.
If you don't read what you're signing and you decide you want to screw up then it's on you. You'll learn from your mistake quick. I'll also add that I'm almost positive gamestop isn't going to give some 18 year old with no credit a $1000 credit card. It'll be a really low amount. Most people with no credit can't even get approved for an unsecured credit card.
It's a scam...
- If you choose to accept the CC offer
- Don't pay your bill ever
- Use it like free money
- Have worse than 5th grade math level
- Are a moron
Gotcha.
I see no problem with this card, if it will have a lower limit and target younger people who have no/low credit it will give them a chance to build credit.
Buy stuff within your means, pay it off when bill comes, repeat.
It is no different than a Sears card or any other department store card.
When I was 18-20 I had a hard time getting any kind of credit and would have been glad for a card that would let me start building credit history.
Interest rate is similar to other types of store and high-risk cards, if someone buys outside their means then its on them, if they didn't do it with a Gamestop card they would have eventually did the same thing somewhere else.