Highest Legal Interest Rate

Discussion in 'Credit Talk' started by sabannseg, Sep 21, 2001.

  1. sabannseg

    sabannseg Member

    Does anyone know the highest legal interest rate that you can be charged on a Mastercard?
  2. RichGuy

    RichGuy Well-Known Member

    In some states (South Dakota, Delaware, and apparently Georgia) there is no legal limit.

    I mention Georgia because my Aspire account, issued from Georgia, still has an interest rate of 29%. Needless to say, I'm trying to reduce my balance. Then I intend to negotiate a lower rate, which an Aspire rep told me they are willing to do.
  3. Jeff

    Jeff Guest

  4. Bill B

    Bill B Well-Known Member

    I would pay it off and close it..They are on some serious drugs!!
  5. fingrrrl

    fingrrrl Well-Known Member

    I heard that Aspire has a default rate of 42%. What is this world coming to?
  6. Maer

    Maer Well-Known Member

    I received one of those instant loans where they send you the check and by endorsing it you are signing the loan agreement. I believe it was from Beneficial or maybe household (it was awhile ago). The interest rate was

    that's right

    This was in rather small type by the way. Of course I shredded it
  7. sam

    sam Well-Known Member

    wow pretty soon the mafia is going to have to take out aspire for competing in the "racket".

    hehe i guess i'm watching the sopranos too much

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