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% A new bipartisan bill introduced by a pair of senators would cap credit card interest rates in an effort to help consumers and fulfill one of President Donald Trump’s campaign promises.
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.
If you tend to carry a balance most months, a card with a low ongoing interest rate will work to your advantage in the long run. NerdWallet's credit cards content, including ratings and ...
A new report finds that people are spending more on their cards and paying down less. Financial experts offer tips for ...
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