Be Sure to Read the Fine Print!

From a recent credit card offer I received:

"The initial minimum credit limit will be $250 and the following fees will be billed to your first statement: Annual Fee of $48.00, Program Fee of $95.00, Account Set-Up Fee of $29.00, monthly Participation Fee of $6.00, and an Additional Card Fee of $20.00 (if applicable). If you are assigned the minimum credit limit of $250 your initial available credit will be $72 ($52 if you choose the additional card option)."

In other words, "We are going to charge you $178 (or $198) to give you $72 of credit."

What's worse? They charge $11 for each payment made by autodraft, $7 to pay by phone or Internet, $3.95 to get Internet access to your account, and $25 if they raise your credit limit.