To think it’s shocking that credit cards with 100%+ APR are even legal?

[BeCoralSeal]

With interest rates like that, how is this not considered predatory lending? It feels like financial exploitation disguised as ‘credit access.’ Shouldn’t there be stricter regulations on this?

As long as it's clearly stated, I don't see why it would need to be illegal. Credit cards often have very high interest rates, which should just spur people into paying their debt off promptly. What's needed is better education and awareness about interest and finance in general.

Personally, I think it should be classed as irresponsible lending - nobody is applying for that card, unless they are desperate. Barely-legitimate loan sharking.

I’ve never seen one advertised at that rate. I know pay day loans always had insane interest rates.

I’d agree with you same with some of these pay day loans where apr is really high as well. I think there should be legislation against tbh. Possibly the base rate plus a flat rate ( 50% seems ludicrously high to me and probably enough to keep market going) and anything over is predatory/ loansharking.

Rates are only ever that high because the lending is to people who have a high chance of not paying it back. With a credit card you pay nothing if you pay it back in time. I don’t think that should be regulated- it would mean people with a poor credit history couldn’t get a second chance.