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.
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%.
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 at 10%
A new bipartisan bill is aimed at giving consumers a break when it comes to credit card interest rates, capping them 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%.
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.
CNET on MSN1d
What's a Good Credit Card APR?
A credit card's APR is the rate at which interest accrues on any balance you carry from one billing cycle to the next. If you ...
Forbes3d
What Is The Average Credit Card Interest Rate?
Of course, the annual percentage rates (APR) you pay on your own credit cards might not match up with the national average. Credit card APRs can vary widely based on a number of factors ...
CNBC5d
Best credit cards for fair and average credit of February 2025
If you have fair or average credit (generally 580 to 669 ... Discover it® Secured Credit Card Best for intro 0% APR: Citi Double Cash® Card Best for no fees: Petal® 2 "Cash Back, No Fees ...
CNET6d
The Fed Voted to Hold Rates Steady. Your Credit Card's APR Likely Won't Change Either
Average APRs have inched down slightly, but you should focus on lowering your credit card balance as soon as you can.
The Pros and Cons of a 0% Balance Transfer
Usually, 0% balance transfer cards offer a 0% rate for a limited period, such as 12 to 18 months. You can structure your debt ...
When to use a personal loan to pay off credit card debt
One big problem with credit cards is if you keep using them for purchases, you may never pay off your debt. Personal loans, ...
Forbes9d
What Is A Good Credit Card APR?
Caroline LupiniManaging Editor, Credit Cards & Travel Rewards Caroline ... the impact in the event of the unexpected. An APR below the national average can be considered a “good” APR ...
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 ...