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Bottom fishing for sub-prime credit card accounts has produced a new round of catalog cards promotionally linked with high-risk-priced, unsecured bank credit cards according to the consumer newsletter CardTrak. This morning a Nevada firm will begin soliciting nationally for its catalog credit card offering $2,000 credit limits “regardless of past credit” and the opportunity to be “processed” for an unsecured VISA card with a credit line up to $2,000. Consumer Money Markets Inc. is offering the ‘MONEYFIRSTCARD’ along with an application for an unsecured VISA from Ocean Independent Bank of DE. Besides offering consumers catalog merchandise on a credit basis, the ‘MONEYFIRSTCARD’ guarantees cash advances of $20 to $150, depending on income, at an APR of 30%. The firm is offering the package for a one-time fee of $149.95.
