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**radikal** · 09-30-2006, 08:00 AM

Credit card companies don't care. They merely shift the risk back on the consumer in the form of high interest rates. The total debt load of households in the US is ~109% of total household income and most of that debt is serviced at near usury rates. In the US there is in fact NO LIMIT on a credit card interest rate. Nominally it's about 16-17% and can typically exceed 24% but legally if a CC company wants to charge 40% or 40000% there is nothing to stop them.

09-30-2006, 08:00 AM	#5
radikal Join Date Oct 2005 Age 54 Posts 4,523 Senior Member	Credit card companies don't care. They merely shift the risk back on the consumer in the form of high interest rates. The total debt load of households in the US is ~109% of total household income and most of that debt is serviced at near usury rates. In the US there is in fact NO LIMIT on a credit card interest rate. Nominally it's about 16-17% and can typically exceed 24% but legally if a CC company wants to charge 40% or 40000% there is nothing to stop them.
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