OT - Credit card with a 79.9% interest rate


http://finance.yahoo.com/news/Credit-cards-newest-trick-799-apf-3359014390.html?x=0&.v=4
My first thoughts...
    
http://i46.tinypic.com/2psgcqu.jpg
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wrote:

Do the Jimmy Cater years ring a bell?

LOL..
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http://finance.yahoo.com/news/Credit-cards-newest-trick-799-apf-3359014390.html?x=0&.v=4
Hmm....located in Sioux Falls SD. I've gotten Citicard mail from there.
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On 12/18/2009 19:08, Red Green wrote:

http://finance.yahoo.com/news/Credit-cards-newest-trick-799-apf-3359014390.html?x=0&.v=4
Takes two to tango.
"First Premier targets people with bad credit who likely can't get approved for cards elsewhere. It's a group that tends to lean heavily on credit..."
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I'm no financial wiz-bang but
    "Tagets" are megarisk     Targets don't pay in many cases     Number of targets that don't pay builds     Targets that do pay offset deadbeats          BUT     Money KY bank is owed by deadbeats is listed as assets          that determines banks balance sheet and worth.     Bank never gets money but used assets as collateral.     Bank runs to Obama with "Lemme hole a dollah".
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tember.org:

deadbeats shouldnt qualify for credit cards or mortages at all.
if they cant afford to live as is, they cant afford added payments......... anyone who loans to credit unworthy shouldnt be elegible for any government help!
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Red Green wrote:

http://finance.yahoo.com/news/Credit-cards-newest-trick-799-apf-3359014390.html?x=0&.v=4
Some wag once theorized if all the wealth in the country were redistributed such that each person got an equal share, in a relatively short time the original distribution would return.
This is one way it could happen.
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