Credit card being offered to people with bad or no credit at 79.99% interest rate

[PinkOwl]

If you get an offer from First Premier bank for a credit card, don't take it. They charge you many, many fees which won't be listed in the letter or brochure, but in the tiny fine print, and according to the following article, 79.99% interest:

People have been complaining a lot lately about higher interest rates on their credit cards.

Cards that used to be six or seven percent are now topping out at 14 percent or 18 percent.

But that's nothing compared to a new credit card offer that Goron Hageman got in the mail.

This card comes with an interest rate of not 30 percent or even 40 percent. The Mastercard offer from Premium Bank comes with a 79.9 percent interest rate!

"My first thought was it was a mistake, so I called the 800 number on the back of the offer and gave them the offer code and verified my information and sure enough, they verified it at 79.9 percent," Hageman says.

More: http://www.wkyc.com/news/world/news_article.aspx?storyid=123814&catid=22