interest rates

[Friday]

Yesterday I got one of the ubiquitous credit card offers in the mail.  I was motivated to open it because the envelope promised 0% interest on balance transfers for over a year.  Once I got it open and started checking the fine print, my jaw dropped when I saw the default APR: 32.24%!     That's the rate you'll pay if you're late on just one payment, or if a check bounces.  I guess I can't really complain, as that is the free market at work, but... day-um.  32.24%  I don't recall ever seeing an interest rate that high on a standard credit card since I was old enough to be paying attention to such things.

[Kat Kanning]

Wowie!!!  big 

[KBCraig]

I've seen Gary Coleman ("Whatchoo talkin' 'bout, Willis?") doing TV ads for one of those quick loan companies. The fine print on the TV screen (never mentioned in the narrative): 99.84% APR.

[Lex]

99.84% APR

You're kidding!!!