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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (21050)	6/26/2018 9:23:12 AM
From: richardred	Read Replies (1) \| Respond to of 33421

>Credit is a good thing to build for bigger purchases Hi John: My daughter's are in their mid to late 20's. I agree credit is needed for the big purchases. Especially an established good credit rating history. It's sure not for the lack of banks currently soliciting a credit card to them, through the mail. IMO it's all about establishing & having some saving first. Then picking the right card, at the right interest rate, and reading the fine print. RE: Fee's and late penalties ect. ect. >snip Usury laws cap the interest rates that can be charged on a line of credit or loan. More than half of all U.S. states today have usury laws in place, and each dictates its own maximum legal limit. However, they have no effect on most credit cards, thanks to effective deregulation that began in the ‘70s. Usury Laws by State, Interest Rate Caps, The Bible & More Jun 20, 2014 \| Richie Bernardo, Senior Writer Usury laws cap the interest rates that can be charged on a line of credit or loan. More than half of all U.S. states today have usury laws in place, and each dictates its own maximum legal limit. However, they have no effect on most credit cards, thanks to effective deregulation that began in the ‘70s. For decades since, usury laws have remained in the economic spotlight, with constant debate centering on whether they should be changed or maintained. Many decry usurious practices for hurting consumers while others claim that the absence of usury laws open up access to credit for more people. The debate is one that surely will continue for years to come. In the meantime, we offer you insight into the background of usury laws. At the end of this guide, you can also read thoughts from several economics and law experts to help you understand how usury regulations affect consumer credit. wallethub.com