MySpace Offering Credit Card (Seriously. Stop Laughing.)
We have seen no greater example of exactly why we are in our current dire financial straights than the new MySpace-branded credit card. In what we can only assume is a conspiracy by News Corp (owner of MySpace, Fox News and the Wall Street Journal) to ensure that the younger generation will be subject to the same crippling debt that we are, the social networking service has lent its brand name to a credit card offered through a partnership with Citibank and Visa.
We can only assume that Citi and Visa signed on because, at this point, the MySpace name is more trusted than that of the almost bankrupt Citibank and, well, almost any credit card company (which is just plain sad). The card works in conjunction with the "Generation Forward" program, which will reward card holders for spending wisely, going green, and giving back to their communities.
Of course, with a standard annual percentage rate (APR) of 14.24-percent, one of the most responsible things someone could do would be to avoid this card. But really, regardless of the APR, it'd be smart not to trust any credit card offered by the folks that brought us high-angled cell phone self-portraits and endlessly re-posted surveys about people's secret crushes. [From: ReadWriteWeb]
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