The exorbitant rates (I have seen as high as 29% in some cases) are without merit. Bait and switch tactics are used in some cases, offering one APR and then concealing almost impossible conditions to keep receiving this APR in the cardholder agreement. Even a person of average intelligence has difficulty understanding all the legalese in these agreements. If my memory serves me, (and that does seem to be the first thing to go), some large California based banks underwent class action suits some years back for exorbitant charges in regard to ATM usage, returned check fees, etc. and I believe they lost. Although I don't recall if any laws were changed it caught the attention of the legislature. I am considering establishing a website to try and get this campaign underway. The more response congressional members receive from the voting public, the more attention they will pay to this matter. I realize the financial industry has a huge lobby, but it cannot hurt to try. I think we have taken this enough from these companies. The APR and other charges are to the point of ridiculous and we need to fight back! I would welcome anyone's thoughts or opinions on this idea.