from LA Times: Minnesota Atty. Gen. Mike Hatch sued Capital One Financial Corp.’s bank unit Thursday over the ads for its “No Hassle” credit card, which promote a supposedly fixed annual interest rate of 4.99%.
Customers who miss a payment deadline or exceed their credit limit can end up with annual interest rates of as much as 27%, Hatch said at a news conference. About 40% of the card’s users will be paying higher rates within two years, he said.
One “No Hassle” television ad features barbarian marauders catapulting a man for using a rival credit card
