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.
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%.
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.
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%.
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%.
Two polar opposite senators back bill to cap credit card interest rates
Sen. Bernie Sanders (I-Vt.) and Sen. Josh Hawley (R-Kan.) agree on very little politically. But the very liberal and very conservative lawmakers are co-spo
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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 ...
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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 ...
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Which credit cards have the best interest rates?
If you already carry a balance on your credit card, you're likely being hit with high interest charges that make it harder to pay off debt. The average APR for all credit card accounts is ...
What is the average credit score in the US?
Most generations increased their average FICO Score by a single point in 2024, although Generation X, currently carrying more debt than other generations, remained at its 2023 average score. (The ...
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, ...
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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 ...