Subprime Credit Card Issuer Raising Interest Rate To 79.9%

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Apparently its open season on consumers

It’s no mistake. This credit card’s interest rate is 79.9%. The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It’s a strategy other subprime card issuers could start adopting to get around the new rules.

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