Credit Tips: What is the maximum interest rate allowed by law?

Posted On: March 1, 2005

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 4:21 pm
Post subject: Maximum interest rate allowable by law in NY

Jamie Rook
Date: 4/27/2000 12:52 am CDT

i was wondering how i would find out what the amxium interest rate a credit
card can charge in new york state. i am delinquent on the account, however i
can not see the bank being able to charge 34%. please let me know.

thanks

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Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 4:22 pm

Board Monitor
Date: 4/27/2000 12:53 am CDT

Jamie,

Thanks for your recent inquiry! This varies from state to state. I would
contact your state’s consumer protection board. For New York, the web
address…

http://www.consumer.state.ny.us/

Hope this helps!

Regards,
Jackie Hughes
Board Monitor
CardRatings.org

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