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How much interest can a credit card company charge by law?

Answers:1   |   LastAnswerAt:2009.12  

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visitor
dnelak 
Asked at 2009.12.18 19:55:36
If you have spent lets say $5000 on a card can they by law charge you $20,000 in interest if you only pay the minimum? What is the law and where can I find out more information?
answer ∞infiniti∞  Answered at 2009.12.18 19:55:36
Credit card interests vary by states. Beware of credit cards from banks that incorporate in South Dakota and Delaware were there is no cap on interest rates.
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