New Credit Card to Charge 79.9% Interest

A new credit card hitting the market is going to carry an interest rate of 79.9 percent.

This is the offer being sent out by First Premier Bank, a subprime credit card lender in Sioux Falls, South Dakota.

It's offering the card up to people who have bad credit and can't get credit cards any where else.

The company says it is pricing its cards based on the risk it faces.

The card also carries a $75 annual fee.
 

Source: http://www.myfoxchicago.com/ dpp/money/consumer_news/ high-interest-credit-card

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