Credit Card with 79.9% Interest Rate!

[jedi]

MOD can you please merge this with the other post. Sorry I did not see it before I posted this.

-----
The picture below is a FAKE but there is a REAL credit card, issued by First Premium Bank, which is now charging 79.9% interest rate for the use of it's card!

SOURCE: Credit card's newest trick: 79.9 percent interest - Yahoo! Finance

Why? Well a few months ago the card was only charging 9.9% interest rate but had $256 in annual fees for a credit limit of $250. However since I6BO has changed the credit card laws and capped the MAX annual fees to 25% of the credit limit on the card, FPB changed it's fees to $75 annual with a 79.9% interest rate since their is no CAP on the interest rate portion.

Yup this is the CHANGE the sheep wanted.

 

[CarmelHP]

I think that they've just guaranteed that a new federal usury law will be enacted.

 

[lashicoN]

What is I6BO?

 

[jedi]

What is I6BO?

Look at my SIG and you will see that I6 stands for...
Idiot Illegal Immigrant Ignorant Inexperienced Imbecile

BO is off course YOUR leader of the free word, the royal king Obama!

A while back on the forums (early 2009 I think) I was using Idiot BO and then I3BO and it just kept going and going and thus we are now at I6.

 

[BUCK HINKLE]

What kind of idiot would us this thing,OH nevermind they will tell the cardholder the monthly payment is only 45.00 and they will sign up, and stand in line to get the card. This is because they don't plan on paying the payments in the first place...

Sorry I work in collections I get a little worked up at times.

 

[DoubleTap Tactical]

They will use it first with no intention of paying it back. Then you and I will end up paying it for them when the current administration bails them out.