Once per turn, during your opponent's Standby Phase, select 1 face-up card on the field. The selected card's effect(s) is negated during that turn. During each of your Standby Phases, pay 500 Life Points or destroy this card.
Love this card. Works wonders on monsters that negate magic/traps, spells/traps/monsters that use spell counters, and cards your opponent needs on their turn. Here's a recent list of cards I've used it on:
Shards of Greed
Tons of equip cards
Skilled Red Magician
Blue Dragon Summoner
Some Fire King cards
And I've used it on many more cards. True I could use a spell or trap that negates whatever in the first place or some destroy cards, but this card allows you to choose different targets depending on what's going on. Use it on Mirage Dragon so you can use traps during the battle phase, and suddenly he summons Relinquished. Takes your monster. Attacks, but wham! Trap. Next turn negate his effect and now he has a useless monster that sits in one of 3 spots. And worse, he used three cards. At least two in hand. Early game you start with only four. That's a card disadvantage for awhile if they went first. And then they switch strategies.. use it again! For a cheap 500 points. I'm not very good at the game but I'm in Platinum having fun!