3 Worst Credit Cards On The Market

This story has been updated to include information from Wells Fargo.

ARLINGTON, Va. ( TheStreet) -- While there are some credit card offers you should jump on as soon as possible -- such as those with attractive one-time rewards bonuses -- there are also those that you should avoid at all costs. Some of the worst credit cards on the market have annual fees that rival the cost of a new flat-screen LED TV and don't give much in return. Others have APRs so high they could qualify for AARP benefits. Still others are unattractive across the board, with simply no redeeming qualities whatsoever. Needless to say, you don't want to find one of these cards in your wallet, and if one already is, you don't want it to be there long.

With each bad offer comes an opportunity for users to make an improvement, though, to find credit cards that help rather than hurt their bank accounts and credit scores. Let's take a look at the worst credit cards on the market and how they can be replaced.

The Visa (V) Black Card
No, this isn't the "Black Card" that has become a status symbol among the rich and famous, perhaps most notably in the hip-hop community. You may be confusing it with the American Express ( AXP) version, officially named the Centurion Card. The Visa Black Card is a far cry from this selective, prestigious spending vehicle, and you need look no further than its annual fee to realize it. Each year, cardholders are required to pay a whopping $495 simply for the right to use this card, and what does it get them? A 14.99% APR, 1% cash back on all purchases, 0% on balance transfers for six months, airport lounge access and the promise of "luxury gifts," whatever that means.

Each of these attributes can be easily replaced and bested by any of the other credit cards for which you'll qualify with the excellent credit needed to get the Visa Black Card. Take the Chase Freedom Visa ( JPM), for example. Not only does it provide 0% APR on balance transfers for 12 months and a $100 cash-back bonus when you spend $500 in the first three months; it also has 0% on purchases for six months, 5% cash back on rotating spending categories and 1% cash back on everything else -- all without an annual fee. Blacklist the Black Card.

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