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Today I received an offer from a credit company called RISE Credit, adorned with stills of Sylvester Stallone from the movie ROCKY, telling me I’d been pre-approved for a $5000 loan.

I mean…sweet deal, right? Who couldn’t use an extra 5K?

Before I signed up and got 50 crisp new hundos, I was curious what the interest rate would be for this generous offer. I mean, I am black which automatically means I’m a credit risk but surely this ain’t no sub-prime mortgage shell game, amirite?

Was it 11%? 17%? 35%?

Nope, Nope, NOPE!!!!

The interest rate was a whopping 124.67%.

No, that is not a misprint. You get $5,000 and must pay it back bi-weekly over two years, for total payments of $12,866.40.

Nice to know that predatory lending is a thing of the past, Elizabeth Warren is kicking ass, and that we learned from our mistakes after the financial meltdown. God bless ‘Murica.

God bless us everyone.

Please send your well wishes and regards to the fine folks at Ruse..um..Rise Credit via the socials:

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