do you think there should be a cap on how much interest can be charged on credit cards ?

Ideally, yes. Many people with good credit had cards with interest rates that shot up to almost 30% in anticipation of the newly enacted credit card legislation and the card issuers blamed the "economic climate" as justification. Not a word was mentioned about the trillions of dollars received in bailout money. During the past nine months, credit card companies jacked up interest rates, created new fees and cut credit lines. They also closed down millions of accounts.

I do agree that people with bad or shaky credit should pay a higher premium for credit privileges due to risk, but people with good credit should not be penalized with usury interest rates.

I don't know that I could specify what would be a "fair" interest rate, because as with other types of credit, a person's credit score would ideally dictate their interest rate, but not so with the credit card industry.

No, but I think there should be a limit to the total amount of credit that can be given to anyone. Credit cards are not a necessity; they're a privilege. And many people can't handle them no matter how low the interest rate. If you get the card from the right institution (ie. a credit union) many people can get a card with a great rate. But having a credit card is playing with fire.

The normal one for Visa Card, I think, I believe is 19%. After one month if you don't pay it off, you are automatically charged interest for the next three months, whether you pay it off before then or not. Now, if a person were to buy a car, and became in debt by around $15k. Do you think that it would be remotely possible for the person to pay it off within even 5 months? That person had better get his plane tickets ready, because they're going to spend the next two years sinking in debt. These credit card companies are making big cash. I would say approx. 5% would be fair. Don't you think?

Yes, up to 22% for people who are a credit risk.