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%.
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.
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%.
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