Skip to comments.No, You're Reading That Right 79.9 percent rate targets credit-challenged
Posted on 10/18/2009 7:18:23 AM PDT by FromLori
Gordon Hageman couldnt believe the credit card offer he got in the mail.
"My first thought, it was a mistake," Hageman said. The wine distributor called the number on the offer, gave them the offer code and verified his information. Sure enough, it was right: the pre-approved credit card came with a 79.9 percent APR.
Yes, 79.9 percent.
(Excerpt) Read more at nbcsandiego.com ...
And the difference between that bank and the Obamaloon administration is?
Lol...but sad that some people will take the “offer”. Might as well stick a gun in their backs.
That number likely is the one time charge...say 10% of cash withdrawal...+ interest rate...
The card company is just ahead of the curve, getting ready for the dollar crash coming under the leadership of the 0ne.....
In a few years, 79% on your credit card debt will seem like a good deal....
I wonder how many takers they get. I have clients coming out of bankuptcy who get offered way better (but still lousy—28% APR with a bunch of fees) deals than that.
This kind of activity invites, no-- demands, regulation. These banks have brought upon themselves and deserve anything the Obamanoids do to them.
The article states that the credit company is just finding ways to gouge the consumer.
Did I miss the gun to the head that comes when you open the mail? How about the invisible ink that hides that incredibly ridiculous rate?
If you accept that credit card, you’re a fool: a fool who signed on the dotted line and acknowledged the obligation to pay an assinine rate. And a fool and his money are soon parted...
So tired of the ‘victim’ whine on stuff like this. It’s right there in black and white. The only thing folks who accept this are victim of is their own stupidity.
This bank deserves to be boycotted for even offering such a card. Closing bank accounts and transferring out balances from them might send the message that we are not sheep.
This offer is completely outrageous. But instead of having government regulate it, just take current business away from it.
If depositors move to other institutions that would send a better message than any regulator could.
Banks that issue credit cards spent 100 million on politicians to get their way on everything.
you could start a business, hire people, and pay their salaries with this card AND pay the interest and still come out ahead of the Porkulus job-creation fiasco!
Kind of like the people who bought the houses they couldn’t afford to pay for what worries me is how much the rest of us will have to pay for these kinds of offers on our own cards or forced through the government to bail out the banks then.
Use your debit card. If you don’t have the money, you don’t need the debt. Especially at that rate.
A credit card is not a status symbol.
A gold plated cell phone, encrusted with diamonds might be.
That's right Lori, me and you, the taxpayer.
The Middle-class is being destroyed.
I only use the cards that pay me cash when I pay them in full every month. I have 3 cards total and zero balance. I use them because they are convenient for gas, etc. Actually I use Discover for groceries lol because they have a 5% cash back thing going on so I have been stocking up paying the bill in full and I get money back for doing it. That is the only way I use credit cards period is by paying them in full each and every month and thus making money.
On purpose it makes me beyond furious the plan to wipe out the best hope of the world America’s middle class!
You're better off going to the local guys.
“Dana Dykhouse, President and CEO of First Premier Bank”
Don’t know why he doesn’t just call it “First Premier Dykhouse”
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