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What is the highest interest rate allowed by law for an unpaid credit card? |
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There are state usury maximums. If the credit card is issued by a "national" or federal bank there is basically no ceiling, thanks to a combination of a 1978 supreme court ruling and other laws passed in the late eighties.(wow, not Clinton's fault). Search the web for usury (most people misspell it "usery") for a pleothora of info.
First answer by Sha. Last edit by Hk rogers. Contributor trust: 56 [recommend contributor]. Question popularity: 201 [recommend question]
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