This is a public Forum  public

Topic

    Lon
    Usury
    Topic posted February 2, 2018 by LonBronze, tagged Billing 
    219 Views
    Title:
    Usury
    Content:

    I see SaskTel has increased its overdue penalty rate from 2% to 3% per month:

    "Charge of 3.00% per month (compounded monthly 42.58% per year) on accounts unpaid
    30 days after billing date."

     

    Not that I am regularly late on payments, but this is pretty unreasonably excessive.

    u·su·ry
    ˈyo͞oZH(ə)rē/
    noun
    noun: usury
    1. the illegal action or practice of lending money at unreasonably high rates of interest.
      • archaic
        interest at unreasonably high rates.