Goldman Sachs credit card practices under investigation by US watchdog

scstrrf said:
my interest rate only recently went down from 23.99% to 21.99%. Questionable at best, even if such usurious rates are standard practice in USA. 

Those 20% rates are calculated per year, and they are nothing when compared to the fact that you can get cheques "cashed instantly" at many specialty shops, and they charge only 3% of the entire value of the cheque (plus a fixed fee.) So if you get your money 7 days earlier than you would have if you had waited for the cheque to clear, you are paying 3%per weekfor a loan, not per year. That's equivalent to 156% interest rate per year (52 times 3%) by comparison to the 20% you are concerned about.

I agree with you that that 156%/year is usurious.