Charging upwards of 25% is a rate that even loanskarks are embarrassed to try.
The only difference between them and banks are bankers don’t break your kneecaps.
However if they outlaw the rates banks charge then only outlaws will charge these rates(hmmmm, where have I heard this terminology before?....)
Micro-business lenders charge up to 100% interest.
I got a call from Sears the other day asking why I wasn’t using their card. They could increase the limit if I wanted (my credit score is 800+)
I told them that their basic rate at 25.5% was horrifying. If they could lower it to the 9% my other cards charge I would be happy to use it.
They said they had not promotional rates, even for good credit customers. Then I suggested that might be why they are going out of business.