Should credit card companies be able to charge people unlimited interest if they are willing to pay it? Oh, let’s say 35% or 135% interest. This may be called usury; the definition of usury is an exorbitant or unlawful rate of interest. Maybe companies should only be able to charge at most 21% interest. And if you negotiate or have great a credit score you should be able to get at least 12% interest. It seems like common sense should or an invisible hand should rule the day and bring too high interest rates down or too low interest rates up. But, that doesn’t always happen. So, I think there should be a cap on interest rate, but what? I’d make the limit 25%.
Lawboy-
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