i would like to know the usary law in Arkansas that pretains to percentage rate increase oncredit cards?

Question

especially when there is a late payment. Is there a limit to how much of a percentage they can increase it?

Answer 1

actually, the states can set maximums, but only if the credit card company is based in the same state. thats how these companies get away with charging the higher rates and fees. I'd check the fine print in your credit agreement that you signed and agreed to. that will have the limits.