Put A Lid On It: The Sanders-Hawley Bill Wants To Cap Credit Card Rates. Here’s What You Need To Know
A political odd couple is joining forces to lower credit card interest rates. Sen. Bernie Sanders (I-Vt.) and Sen. Josh Hawley (R-Mo.) unveiled a bill that would 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.
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.
This Week In Credit Card News: Senators Propose 10% Cap On Interest Rates
Josh Hawley, Bernie Sanders Propose Capping Credit Card Interest Rates At 10%
Two Senators Want to Cap Credit-Card Rates at 10%. Banks Say That Would Cut Credit Access
A bipartisan pair of senators want to cap your credit-card interest at less than half the typical rate. They may have President Trump's support—but banks aren't so excited.
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.
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A bill would cap credit card rates at 10%, echoing a Trump pledge. Are there downsides?
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