What is the highest legal APR for a credit card?

Answer Credit cards can charge any rate, but the higher the rate the least likely the bank will entice people to use their cards. First Premier bank offers a card that has a 79.9% rate which was legal sin... Read More »

Top Q&A For: What is the highest legal APR for a credit card

What is the highest legal interest rate on a credit card in the U.S.?

Believe it or not, there is no limit on the interest rates credit card companies can legally charge. However, the FDIC's consumer protection "Truth in Lending Act" requires the maximum interest rat... Read More »

What is the highest credit card percentage rate allowed in the USA?

During the 1978 Marquette vs. First Omaha Service Corporation case, the Supreme Court decided that states can decide on maximum credit card annual percentage rates. Some states, such as Delaware an... Read More »

What is the legal age to have a credit card?

Most credit card companies do not allow anyone under 18 to open an account. However, parents who want their child to have a credit card can link an additional card to their account and make the chi... Read More »

Are recordings for credit card authorization legal?

Federal law allows the recording of a phone call if at least one party to the call consents to the recording. In some states, all parties to the call must consent to the call being recorded. If the... Read More »