The friendly people at Frist PREMIER Bank mailed me a Pre-Approved 9.9% Fixed APR MasterCard. I actually opened the envelope to see just have crappy the offer was. Well, the fee structure includes a one-time $29.99 account set-up fee; a one-time $95.00 program fee; a $48.00 annual fee; and a $72.00 annual participation fee (conveniently billed at $6.00 per month). Wow, people must be extremely desperate for credit if they go for this offer. That is about $244.00 for the first year of the card and $120.00 each additional year. OUCH!

They also charge a $25.00 over the limit fee and a $3.95 internet access fee (what the heck is that?).

The initial available credit statement is as follows:

The initial minimum credit limit will be at least $250 and the following fees will be billed to your first statement: Annual Fee of $40.00, Program Fee of $95.00, Account Setup Up Fee of $29.00, monthly Participation Fee of $6.00, and an Additional Card of Fee of $20.00 (if applicable). If you are assigned the minimum credit line of $250 your initial available credit will be $72 ($52 if you choose the additional card option).