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Old 02-13-2010, 12:13 AM   #1
peaceandlove
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Join Date: Sep 2008
Location: Turtle Island
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Default Issuer of 79.9% Interest Rate Credit Card Defends Its Product

Nope it's not a typo!!!

Wowee...bad credit WHOP!

Issuer of 79.9% Interest Rate Credit Card Defends Its Product

by Connie Prater
Friday, February 12, 2010

APR Shocks Many, but Issuer Says They Are Pricing for the Risk

If you have bad credit in the new era of credit card regulation, be prepared to pay -- dearly -- for the privilege of using credit. That's the message underlying recent credit card offers that feature jaw-dropping interest rates of up to 79.9 percent.

The sky-high rates may be a sign of things to come in the market for so-called subprime credit cards as issuers who lend to the riskiest of borrowers try to figure out how to stay in business and comply with the new credit card reform law.

Continues: http://finance.yahoo.com/banking-bud...bb-creditcards
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Old 02-13-2010, 02:58 AM   #2
tone3jaguar
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Posts: 1,525
Default Re: Issuer of 79.9% Interest Rate Credit Card Defends Its Product

What is the name of the company, the Federal Reserve. LOL
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