Normally I throw all the drivel in the bin that comes with my statments advising that I am seriously in debt. Today however I glanced at a document from Amex that fascinated me. Here goes its a retrospective introduction of changes. Well thats what it seems to me, the thing is dated December 2007 but relates to changes in July 2007. But the real gauling thing must be the charges 44.8% APR for a cash advance wow and 42.0% for goods and services. I may be wrong but I thought there was a level at which interest fell into the loan shark catergory, I thought that was about 36%. FBT your comments please |
1 comment:
Believe it or not, the maximum legal level of usury in Hong Kong is 60% per annum. Not that this prevents triad loan sharks charging even more.
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