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By tammi
On 02/28/01
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is there a legal APR? i thought i heard something about how an APR can't be over a certain percent. is this true?
thanks,
tammi
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By clark
On 02/28/01
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I believe each state defines what is a Usury (exhorbitant) APR. The maximum APR varies from state to state. The highest rates I have personally encountered are in the 30% range. I think South Dakota has relaxed standards for how much the maximum APR can be, but I am not positive.
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your questions are answered by the gromco team and card users like you
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