Credit Card Interest Rates Gone Wild

Consumers may be feeling more confident to spend, and credit card companies are taking notice. First Premier Bancard in South Dakota received 9,000 applications for a credit card with a 79.99 percent interest rate, aimed at people with poor credit. The credit card with its sky-high interest rate, was part of a "small test" the company ran, and did not have 700,000 people signed up as originally reported by news organizations. The average interest rate for a credit card plan was 13.78 percent...Full Story