A new bill in Congress would cap credit card interest rates at 10%. But the limits could harm consumers, experts warn
A new bill sponsored by Sens. Sanders and Hawley would cap credit card APRs, but that could reduce access to credit and credit card rewards programs.
Would a 10% Credit Card Interest Rate Cap Be a Totally Good Thing for Consumers?
Factors like your debt-to-income ratio, your income and existing debt all influence the interest rate on your credit card. And consumers who are considered high-risk are approved with a higher interest rate as a way for banks and issuers to compensate for the possibility of default.
Trump Promised a Cap on Credit Card Interest Rates. Here’s His Chance.
Senators Bernie Sanders and Josh Hawley say they will propose a 10 percent limit on credit card interest rates.
Bipartisan bill would cap credit card interest rates at 10%
Sen. Bernie Sanders (I-Vt.) and Sen. Josh Hawley (R-Mo.) are expected to introduce bipartisan legislation in the Senate on Tuesday that would cap credit card interest rates at 10%.
Bernie Sanders, Josh Hawley introduce bill to cap credit card interest rates. What to know
Sen. Bernie Sanders of Vermont and Sen. Josh Hawley, a Republican from Missouri, introduced legislation to cap credit card interest rates at 10%.
Josh Hawley, Bernie Sanders propose capping credit card interest rates at 10%
Senators Bernie Sanders and Josh Hawley introduced new legislation that would cap interest rates on credit cards at 10% to fulfill one of President Trump's campaign promises.
Senators move to cap interest rates on credit cards at 10%
A pair of senators are pushing a bill that would cap interest rates on credit cards in a move that would deliver on a campaign promise from President Trump.
Consumer Alert: Unlikely allies team up, aiming to cap credit card rates
In an unexpected move, two senators from opposite ends of the political spectrum are joining forces to tackle high credit card interest rates. Senator Bernie Sanders, a far-left politician, and Senator Josh Hawley,
Bernie Sanders, Josh Hawley team up on Trump pledge to slash credit card rates to 10%
A bipartisan bill from Sens. Bernie Sanders and Josh Hawley aims to codify a campaign promise made by President Donald Trump to cap credit card rates to 10%.
The senators want to cap interest at 10%, fulfilling a campaign promise made by President Donald Trump
Political odd couple Josh Hawley and Bernie Sanders on Wednesday announced they are jointly sponsoring a bill that would force credit card issuers to cut interest rates to 10%, which would ostensibly lower payments for Americans who carry a balance while fulfilling a campaign promise made last year by President Donald Trump.
Hawley, Sanders push for 10 percent cap on credit card interest
Sens. Josh Hawley (R-Mo.) and Bernie Sanders (I-Vt.) introduced a bill Tuesday seeking to cap credit card interest rates at 10 percent.
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What Is The Average Credit Card Interest Rate?
We calculate average rates for other card types using smaller, category-specific subsets. Higher credit scores have the potential to help you qualify for lower interest rates on credit ...
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Current credit card interest rates [2025]: How do your cards stack up?
Cash advance APR: This interest rate applies only to cash advances made with the card. Penalty APR: Credit card issuers may charge this higher rate if you miss a payment by 60 days or ...
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Should I close my credit card if I have a high interest rate?
If you have a credit card with a high interest rate, or APR, you may be wondering if it's worth holding onto. And you have a valid point. Interest rate fees can add up quickly on credit ...