What is the difference between usury and interest?

[Anonymous]

are they both the same

[MTC29]

Usuary is loaning money at intertest rates above those which are lawful. Each state has its own laws regarding usuary. In Florida loans the maximum interest rate for loans under $500,000 is 18%. For loans above $500,000 a maximum rate of 25% applies.

Notice that I said loans. These rates do not apply to revolving debt (credit cards). The folks at Mastercard can hammer you with any interest rate they please.

[OddBeMe]

It’s like a boxer who kills his opponent in the ring.
It’s like a creep who breaks into your house just to listen to you sleep.
It’s like your boyfriend uploading your sex tape to a porn site.

Got it?

[Asker]

Nope, I'm confused.

[OddBeMe]

Well I tried.

[Sketti2021]

No clue what usury is

[msc545]

Magnitude

[Asker]

Huh?

[msc545]

An interest rate of 2% is not usury; one of 200% is.

[OddBeMe]

Got a govt loan at 3% I used to pay off a 20% loan. Whew.

[OddBeMe]

Don't think people think about those things. My in laws paid off their mortgage early. I was like, "why not pay off your credit card debt?" They just shrugged.