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Credit Card Interest Rates
I get 3 or 4 credit card offers a year, on the average. I shred them, then recycle them. Got an offer Monday afternoon. I just happened to look at the offer as I was getting ready to put it into the shredder when I HAD to take a closer look! It was outrageous! Talk about greedy!
First Premier Bank wants up front $176.00 for the first year, $49.00 a year after that as a set up fee.
They want $14.50 a month maintenance fee. Plus 36% interest.
Now the last time I checked, it was 20 years ago, interest could not legally go over 18%. At that time the average was 20%. And no one was doing anything about it. No protests, no challenges. I didn't make one either, so I too am partly to blame for these run away expenses.