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