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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » Do banks have any form of legal guideline to be followed when an interest is given for a ...

Do banks have any form of legal guideline to be followed when an interest is given for a credit card?

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Yes there is a legal law that banks have to keep in mind earlier many banks had ranged their interest rate ranging from 12% to 18%, however today this range has increased from 18% to 24%.

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