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.
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.
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.
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%.
Sanders and Hawley introduce bill to cap credit card interest rates at 10%
Sanders and Hawley’s bill comes after President Donald Trump vowed in the 2024 race to temporarily cap credit card interest rates at 10%.
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,
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.
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