First Premier Bancard, the sister card-issuing organization to Sioux Falls, S.D.-based First Premier Bank, is charging an annual percentage rate of 59% on cards aimed at consumers with lower credit scores.

The cards also carry a phalanx of fees. Card accounts carry an annual fee of $30 per year for the first year and $45 per subsequent year and a monthly servicing fee of $6.50 per month ($75 per year). Cash advances cost the card holder 3% (maximum of $10), late payments cost $35 and returned checks cost another $35.

The company has reported that more than 700,000 consumers have obtained the card and that roughly half of them revolve a balance every month.