Discussion in 'Credit Talk' started by S.D., Nov 21, 2000.

  1. S.D.

    S.D. Guest

    I was looking at the different terms and conditions for the Nextcard, and some of the offers have an APR over 24%. I heard that there is a new law where companies cannot exceed 24%. Anyone know the details??
  2. jason

    jason Well-Known Member

    There is no Federal Law, but some states like Ohio have a cap of 18%
  3. ble103

    ble103 Guest

    Ohio has a 25% cap on interest rates.
  4. Donna

    Donna Well-Known Member

    Sorry I can't provide details but I can say that I didn't have much luck with Nextcard. Several months back, I applied for the card and wasn't approved. My credit wasn't as good then as it is now and that was before Nextcard ventured into the subprime market.

    If you apply, I hope you're accepted and are offered a decent interest rate.

    Good luck and let us know.


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