Is that even legal?! Wasn't one of the reasons that loan sharks were originally targeted was that the public could not, in normal payment arrangments, ever get out of debt?
I know the IRS wanted their taxes, but I am sure I remember reading that part of the sales pitch was that it was for the good of the people. The long gouging interest rates that had them paying interest on interest long after the principle was effectively "repaid".
Quick math shows:
If you charge $300 on that card, $20 is the minimum monthly payment, and you never charge anything else:
It will take you 2 years to pay off and you will pay an additional $268 in interest!
There is no way that is not criminal....