227% interest rate on credit card designed to 'help' families??

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Would you believe this? 227% of interest!! How on earth could the bank think of extending such a kind of credit? This is simply out of this earth and I would not even want to consider getting one. What is even appalling was that it mentioned that it was suppose to families for Christmas. These people just have not learnt their lessons have they? They are simply greedy to the core. I just marveled at how the government could go along with such a bank. This is an outrageous act and no different from a loan shark except this is a shameful legal one. Blood suckers, as I would term them. What do you think? Where is this going to? Ref: http://www.dailymail.co.uk/news/article-1080797/227--The-staggering-rate-credit-card-designed-help-families-Christmas.html