Cap on credit card interest rated

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Cap on credit card interest rated

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Credit card rates should be capped and a very maximum set which I suggest should be 25% and no more. I believe Germany have this in law that a credit card provider can not charge prohibitive rates. It just gets people further into the spiral of debt and coming to the point of not being able to pay which is not in anybody's interest. It is very immoral to charge rates of 30%+ and just pushes people to money lenders or to the brink. It is immoral!

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