The Consumer Financial Protection Bureau is a government agency built to protect consumers. Our free resources help you have the information you need to make informed financial decisions.
The card issuer increased my interest rate to 30 percent. Isnt that illegal?
There is no federal law that limits the interest rate that a card issuer can charge. The maximum interest rate is generally determined by state law. The law of the state where the card issuer has its headquarters generally determines the maximum interest rate the card issuer can charge.