I was looking at credit cards today... Someone without a credit rating on average has an APR of like 20% or 12% with a 50$ annual fee... That's just insane... I mean, I'm 16, I had no credit rating, I applied for a card in my name and only in my name, and I got 12.9% APR. You can't even have above 18% APR in Vermont.
Who in their right mind would take a card that has 20% APR?