Issuer of 79.9% Interest Rate Credit Card Defends Its Product
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.
(Excerpt) Read more at finance.yahoo.com …
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