Legal Question in Credit and Debt Law in Florida

credit card usury law

I have a business credit card that was issued to me in Florida from a company in Georgia. Due to a late payment, they raised the interest rate to 32.99%. I was wondering about usury laws and which state law applies to me.


Asked on 12/09/08, 4:50 pm

1 Answer from Attorneys
Angelo Marino Angelo Marino Jr. PA

Re: credit card usury law

Usury laws do not apply if the bank is a national vs a state bank. Check to see if you ever received notice of the increase in the rate. This would be in a paper notice to you, usu in your bill, or in the original agreement. if not, then the charge is wrong.

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Answered on 12/09/08, 10:00 pm


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