It is hereby declared unlawful for financial establishments and other entities engaged in credit card business to charge interest rates exceeding forty two percent (42%) per annum, including penalty for late payment and other finance charges. As used in this Act, the term "credit card" refers to any card, plate, code coupon book or other credit device that can be used to obtain money, goods, property, services or any other thing of value. > Any person found guilty of violating the provision ofthis Act shall suffer the penalty of not less than three (3) years nor more than six (6) years or a fine of One Hundred Thousand Pesos (P100,000.00) or both at the discretion of the court. If the offender is a corporation, the penalty and/or fine shaall be imposed upon the president, director and manager or managing partners.