Can a credit card company charge you 32% interest????

yes they can so cancel that credit card.

Yes they can. They can do it automatically if you are ever late.

What is worse is that you can have a perfect payment history and still find yourself having to pay the default rate. This happens when you are late on another creditor's account, or if the credit card company determines that you are accumulating too much debt.

This right to increase your rate is found in your cardholder agreement. It is known as a universal default clause.

Yes:

It's a "bad risk" card for those with bad credit;
you have gone over your limit;
or simply because they feel like increasing the interest rate or APR.

They can charge anything they want, as long as it's in your agreement.

yes i'm sure it was in "fine" print thats how they get over

yeah, had to find that one out the hard way.

Yep. They can charge whatever they want. Especially if you credit is not so hot.

Absolutely.. They can charge as much interest as they like, that is why you have to read all the fine print when you apply for a credit card. Many cards can have fluctuating rates, while others have a fixed rate, but it is high. Always, always, always read the fine print before you get a credit card, because one you sign on the dotted line you are agreeing to pay whatever exuberant amount they choose.

Yes. This is commonly done as a penalty for late payments. It was probably in the "Card User Agreement" that you recieved when you signed up for the card.

If you shop till you drop, anybody would. By the way, 2.95% per month should make more than 32% per annum!

well you must be a really bad payer if they do so...

Yes , just try to raise your credit score . maybe this site will help you to get better credit !=======================================
The TRUTH About Credit Repair...

-by Terry Price

(C) Copyright Terry Price
All Rights Reserved

http://gaby1221.niesong.hop.clickbank.net
======================================...

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In the next segment we'll talk about:

"Is Your Credit Score Costing
You A Fortune?"

======================================...
Terry Price is the founder of Consumer
Education Group which publishes the
Credit Secrets Bible (in print since
1994).

For more information on the CREDIT
SECRETS BIBLE you may visit:

http://gaby1221.niesong.hop.clickbank.net
======================================...

THey can but not if they want to keep your business!
Please shop around.
Obviously there are interest rates that are better than that (even if you have horrible credit that is high!) YOu will NEVER be able to pay off your debt if you have to pay that much in interest.
In a year with minimum payments, your balance will double!
Call bank of america
(1800 732 9194) and see if they can help you.
I have marginal credit (high 500's) and they gave me 0% balance transfers on my other accounts. The transfer was free and the 0% was for 12 months.
Whatever you do, DO NOT use that card again.
a $100 purchase will end up costing you double that by the years end!

This is America-- like it or not the govt. cant limit your economic freedom much. If your credit score is bad enough to be charged 32% then it is YOUR fault that you got yourself into that situtation, not the lender. In reality you should not be getting a card anyway until your credit situtation improves.

If your credit score is not bad, then just shop around because 32 % is VERY high

Sure. Usually if you've been late.

It depends on what state you are in. Every state has a maximum they can charge for interest.

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