Just when you think things couldn't get worse....
NEW YORK (AP) -- It's no mistake. This credit card's interest rate is 79.9 percent.
The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It's a strategy other subprime card issuers could start adopting to get around the new rules.
You can find the article on yahoo Finance:http://finance.yahoo.com/news/Credit-cards-newest-trick-799-apf-3359014390.html?x=0&.v=4
Are we having fun yet?
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