This is so true. A good friend of mine recently just received three credit card offers. She has horrible credit. I looked at the offers and they were very high. She is thinking about using one to build her credit.

I agree. I think for some people this could be just what they need and what they are looking for. But I think no matter what, it is always in your best interest to do your research before you commit to anything.

Egghead wrote: This kind of behavior on the part of the banks is immoral, don't you think? By targeting those in poor financial health, who invariably have fewer choices, with higher rate credit offers they are basically just exploiting people.

I think it depends on how you look at it. The higher rate cards can be helpful to the right people and it's the responsibility of the consumer to know what they're getting into. For someone who knows what they're doing and is going to use the card responsibly, it can help them rebuild their life. For someone who is not ready to be responsible, these cards are a nightmare disguised as a dream come true.

This kind of behavior on the part of the banks is immoral, don't you think? By targeting those in poor financial health, who invariably have fewer choices, with higher rate credit offers they are basically just exploiting people.

Absolutely, I couldn't agree more. When a bank reaches out to you for a deal, it usually is not the best deal. Make sure you read the fine print, and know what you are getting yourself into.

This is good advice and everyone needs to read the fine print. Some banks are in the business of targeting folks who need to rebuild their credit and they can end up in even more trouble than where they started with a high interest card.

Just read an article on Huffinton Post that banks are getting back in the routine of targeting high risk borrowers. Please be careful that you don't get hooked into a Severely high interest card just to have credit. The high interest may not be suitable for your situation. Research, research, research. This site is great for research, speaking from experience. Just wanted to warn people so they know.