Trump pitches capping annual credit card rates at 10%: 'We can’t …

Sep 19, 2024 · “We’re going to cap it at around 10%. We can’t let them make 25 and 30%.” The average credit card interest rate was 21.5% as of this past May, according to data provided by …

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Trump Pitches Capping Annual Credit Card Rates At 10%: 'We Can’t …

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Trump's Bold Plan: Limit Credit Card Interest Rates To 10% – But …

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Sep 25, 2024 · Despite Trump's confident claims, no credit card interest rates have ever dipped to 10% in recorded data, which dates back to 1994. Rates surged starting in early 2022, largely …

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Trump Suggests Capping Annual Credit Card Interest Rates At 10

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Trump Interest Rate Cap Draws Criticism | Payments Dive

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Sep 30, 2024 · Bill Pugliano via Getty Images. Former President Donald Trump’s proposed 10% credit card interest rate cap could fundamentally change the way credit card services are …

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Trump's 10% Credit Card Interest Cap Could Hurt Borrowers, Experts …

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Sep 24, 2024 · “While working Americans catch up, we’re going to put a temporary cap on credit-card interest rates,” the Republican presidential nominee said at a rally in New York on Sept. …

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Donald Trump Wants To Cap Credit Card Interest Rates At 10% — …

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Oct 9, 2024 · “We’re going to cap it at around 10%. We can’t let them make 25 and 30%.” This proposal stands out given the average credit card interest rate was 21.76% as of August 2024, …

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This Week In Credit Card News: Could We See A 10% Cap On

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15 hours ago · Elizabeth Warren Backs 10% Cap on Credit Cards. The incoming top Democrat on the Senate Banking Committee threw her support behind a 10% cap on credit card interest …

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Trump Wants To Cap Credit Card Interest Rates At 10% — Critics …

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Sep 21, 2024 · “While working Americans catch up, we’re going to put a temporary cap on credit card interest rates,” Trump spoke to a packed audience during a campaign rally in New York …

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Donald Trump Wants To Cap Credit Card Interest Rates At 10% - MSN

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In 2019, Sanders and Ocasio-Cortez proposed a bill to cap credit card interest rates at 15%, though it didn't pass. Sanders called high credit card interest rates a “profound moral issue.”

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What Donald Trump And Bernie Sanders Get Wrong About Credit …

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1 day ago · Mr Trump is hardly known for his conciliatory nature. ... a proposal to cap interest rates on credit-card repayments at 10% has won the support of both Mr Trump and Bernie …

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Sanders Finds Common Cause With Trump To Lower And Cap Credit …

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During his third run for president, Trump had promised to cap credit card interest fees. "We're going to cap it at around 10%. We can't let them make 25% and 30%," Trump said at a Long …

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The Market Is Betting Trump Won’t Fix High Card Rates

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Nov 8, 2024 · Among those high prices have been what it costs to borrow on a credit card. Trump during the campaign even floated the idea of a temporary 10% cap on credit-card interest …

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FAQs about Trump pitches capping annual credit card rates at 10%: 'We can’t … Coupon?

Will trump cap credit card interest rates?

During his third run for president, Trump had promised to cap credit card interest fees. “We’re going to cap it at around 10%. We can’t let them make 25% and 30%,” Trump said at a Long Island, New York, event in September. “While working Americans catch up, we’re going to put a temporary cap on credit card interest rates.” ...

Why is Trump calling for a temporary interest rate cap?

Trump's call for a temporary interest rate cap is just the latest political issue putting the card industry on the defensive. Banks are fighting the CFPB in court over its proposal to slash late fees to $8, from upward of $30. ...

Could a president impose a cap on credit card interest rates?

Although a president likely wouldn’t hold the necessary authority to execute the policy himself, Congress has tried to take such an action before. Sen. Josh Hawley (R-MO), a Trump ally, introduced legislation to cap credit card interest rates last year. ...

Should a 10% rate cap be imposed on credit cards?

“There’s no question that with a 10% rate cap, card issuers would put the clamps down on credit while they figure out how to continue making money in this new normal,” he said. The reason: Interest rates are how credit card companies manage the risk that a customer won’t pay their credit card bill on time. ...

Would a 10% interest rate cap hurt a credit card lender?

While consumers would love to pay lower interest rates, a cap would be a huge hit to the profit of lenders. One argument against a 10% cap is that it could make it a lot harder to get approved for a credit card. ...

Is Donald Trump taking credit card interest rates seriously?

Donald Trump’s policies aren’t actual policies. There’s no point in taking these ideas seriously, because he doesn’t take them seriously. Donald Trump managed to roll out a new idea this week, announcing that he wants to impose a temporary 10% cap on credit card interest rates. ...