Legal Question in Credit and Debt Law in Pennsylvania

usury

How can a credit card company charge 18 to23% when a state's usury laws limit interest rates to 6%?


Asked on 4/04/09, 4:09 pm

1 Answer from Attorneys
Greg Artim Morrow & Artim, P.C.

Re: usury

You are mis-informed. The usury rate is not 6%, not even close. 6% is the standard rate of interest that is applied to a judgment.

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Answered on 4/04/09, 5:28 pm


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