The Worst Retail Credit Card of 2010: Radio Shack
Radio Shack says it’s done selling stupid toy robots that make obnoxious noises and break in the first two hours. But when it comes to charging consumers an arm and a leg for credit, the Shack is just getting started.
Even in the best-case scenario, when you’ve done nothing wrong and haven’t missed a payment, the interest rate on a Radio Shack credit card is a whopping 28.99%. That’s 5 points higher than the average in-store card, and more than twice the average interest on all credit cards. You do get a teaser rate, with zero interest if the account is paid in full by January 2012. But in return for that extra-long grace period you also have to spend at least $350 the highest minimum of any national retailer.
The only good thing about this card: You do get 15% off batteries, according to the company’s website. Perfect for that stupid robot you can no longer buy at Radio Shack.