Q:

What are some features of the Imagine Mastercard?

A:

Quick Answer

The Imagine Gold MasterCard was marketed to borrowers with subprime credit; it offered a $300 credit limit to new cardholders while charging a $150 annual fee and a monthly $6.50 maintenance fee, according to Ask Mr Credit Card. The card also required automatic payments from cardholder bank accounts.

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Full Answer

In 2008 the Federal Trade Commission sued the card issuer, CompuCredit Corporation, for deceptive marketing practices, including failure to disclose fees and misrepresentation of the amount of credit that would be available, states Ask Mr Credit Card. The Federal Deposit insurance Corporation also took administrative action against CompuCredit, which settled the case and paid refunds and penalties. The Imagine Gold Mastercard is no longer available.

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