Rate Jacking? How about 80 percent!
This post was written by Tom Mahoney on December 21, 2009
Posted Under: credit card,Interest Rates,Other Fees
Posted Under: credit card,Interest Rates,Other Fees
The Government thought they were doing us a favor passing the new Credit card legislation. But the banks are haveing no trouble getting around it. To the tune of a 79.9% interest rate. First Premier Bank is doing just that. They have to because in February when the new law goes into effect, they can’t charge $256 in fees on a new $250 credit line.
Don’t believe me. Read the full story here.
