Interest, when it reaches a certain point, becomes usurious.  Usury is economic abuse. That is immoral.

Out of curiosity Besh what is a moral issue for you?  Apparently economic justice nor environmental issues aren't (so you have said).

Credit Card interest rates (and the explanation/application thereof) tend to count on both of those terms.

There's nothing immoral about credit cards.  People know what they are getting into when they charge something to a credit card.  There are several days to weeks to pay off the credit card's balance when you use it so you don't pay interest. 

The issue is with people living beyond their means.  If you can't afford it, don't buy it. 

Not everyone is capable of understanding & managing - just a fact of life because of either mental issues or crazy life, or emergency situations that destroy best laid plans.   Such things do not preclude one from applying, and the credit card companies bank on it.  Arguments like Beshpin & Kali assume all people are completely in control of life.

If YOU understand how credit cards work and YOU manage to stay afloat, congratulations!  But don`t jump at others and figure that they`re stupid if they get hung up.  That is a short-sighted self-important view.

NOW - I believe interest is a fair thing to charge, because the commodity is worth something.  The commodity is space & time to have purchasing power.  Sure- that is worth something but only enough to provide a reasonable payback to the lender, and reasonable cost to the borrower.  I remember times in my life that I was grateful for credit and honoured the reality of interest charges.  After injury & illness, interest & credit bought us time to get our feet on the ground and move on.  

 Well said, Birthstone. No matter how hard a person tries, shit happens. We  have family who see us as a lower life form because we are not well-moneyed due to life circumstances.

Having said that, we are not up to our a** in credit debt either, Praise God. We have one card that we are trying to pay off and it is not only interest it is all these other miscellaneous fees that undermine one's efforts also.

I can also vouch for the mental illness (not mine) causing a bit of financial chaos at times.  Grasping financial concepts is harder for some than others, through no fault of their own.

I think credit is a useful tool.  but like any tool, there needs to be education in the safe and responsible uses of it.  and when problems arise, such as usurious interest rates, that's when I think the community laws should step in.

-jan-