Two Senators Want to Cap Credit-Card Rates at 10%. Banks Say That Would Cut Credit Access
Key Takeaways Senators Bernie Sanders and Josh Hawley introduced a bill last week that would cap credit card interest rates at 10%.Banks said a cap that low would significantly decrease the number of people it could issue credit cards to.
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?
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.
Proposed cap on credit card interest rates
Independent Sen. Bernie Sanders and Republican Sen. Josh Hawley have made an unusual alliance to take on credit card interest rates. The FOX 5 I-Team's Dana Fowle takes a closer look at the senators' proposal.
Hawley, Sanders push for 10 percent cap on credit card interest
Sens. Josh Hawley (R-Mo.) and Bernie Sanders (I-Vt.) introduced a bill Tuesday seeking to cap credit card interest rates at 10 percent. “Credit card interest rates are out of control. Rates have
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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What Is The Average Credit Card Interest Rate?
Evan Coleman is an Updates Editor on the Credit Cards and Travel Rewards team at Forbes Advisor, showcasing his interest in personal finance and love of travel. He has written for a variety of ...
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Weekly Mortgage Rates Trickle Down; Refinances Are on the Rise
Mortgage rates are unlikely to see major drops any time soon, as economic markets wait to see what comes of the Trump ...
What the Fed’s Rate Policy Means for Your Finances
Here’s how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.
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Current Home Equity Loan Rates
Compared with other options, interest rates on home equity loans are usually better than personal loan rates and credit card rates. Current home equity loan rates We track home equity ...
Bank of England cuts interest rates to 4.5% - what it means for your money
The Bank of England base rate can affect everything from your mortgage to the rates applied to credit cards - we round up ...