Do banks have any form of legal guideline to be... - Limited/Bad/Fair Credit Questions

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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%.

All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
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