A new bill would cap credit card interest rates at 10%. Here's what that could mean for your money
A bill to limit the interest rate on credit cards has been introduced in Congress. The banking industry says capping rates would have unintended consequences.
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.
What would be the impact of a credit card interest rate cap?
New legislation in Congress that would cap credit card interest rates at 10% that has the backing of President Trump could reshape financial services, though it would carry a cost.
A bill would cap credit card rates at 10%, echoing a Trump pledge. Are there downsides?
A bill would cap credit card rates at 10%, something Trump promised on the campaign trail. Will Trump follow through? Will consumers benefit?
Opinion
Capping credit card interest is a truly awful idea
Sen. Josh Hawley said he has teamed up with the consummate supporter of every bad economic idea, Sen. Bernie Sanders, to introduce an arbitrary 10% cap on credit card interest rates.
Opinion
Josh Hawley works with Bernie Sanders to cap credit card interest rate at 10%. What? | Opinion
He introduced a bill with Vermont’s left-wing legislator, but it’s not the strangest bipartisan effort from the Missouri senator. From Yvette Walker:
Three companies promising to lower credit card interest rates sued by state
Minnesota Attorney General Lori Swanson today filed three lawsuits against separate companies that promised consumers they would lower the interest rates on their credit cards in exchange for
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Forbes2d
What Is The Average Credit Card Interest Rate?
Average credit card interest rates are calculated from a dataset of ... loan used to pay off existing balances, particularly on high-interest debt like credit cards. If approved, you’d ...
What the Fed’s Rate Policy Means for Your Finances
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Hawley/Sanders Credit Card Interest Cap Is a Gift to Payday Lenders and Loan Sharks
If the Hawley–Sanders legislation passes, the government will set a price cap on what credit card companies charge for ...
RFK Jr. had up to $1.2 million in credit card debt — what experts say about tackling high balances
Robert F. Kennedy, Jr.'s recent financial disclosures show a "massive" amount of credit card debt, according to experts.