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

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 …

CouponFollow Extension

10%
OFF

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

1 week from now

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 …

yahoo.com

10%
OFF

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

1 week from now

Sep 24, 2024 · But recent bills seeking to limit how much banks could charge for credit card interest have stalled, including an effort to cap rates at 36%, and another to cap them at 18%.

nbcnews.com

10%
OFF

Trump Suggests Capping Annual Credit Card Interest Rates At 10

1 week from now

Sep 19, 2024 · Credit card interest rates have never dipped to 10% in the Fed’s dataset, which dates back to 1994. But critics warned Trump’s plan would most hurt those he professed to …

nypost.com

10%
OFF

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

1 week from now

Oct 9, 2024 · It’s noteworthy that Trump’s proposal resembles one from across the aisle. In 2019, Sanders and Ocasio-Cortez proposed a bill to cap credit card interest rates at 15%, though it …

moneywise.com

10%
OFF

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

1 week from now

Sep 21, 2024 · This proposal stands out given the average credit card interest rate was 21.51% as of May 2024, according to the Federal Reserve. Rates have climbed in recent years, but …

yahoo.com

10%
OFF

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

1 week from now

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 …

forbes.com

10%
OFF

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

1 week from now

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.”

msn.com

10%
OFF

Trump Floats Long-Shot Proposal For 10% Cap On Credit-Card Rates

1 week from now

Sep 19, 2024 · Trump’s proposal comes as more Americans are struggling to pay their credit-card bills. The average interest rate on cards was 21.5% as of May 2024, according to data from …

wsj.com

10%
OFF

What Donald Trump And Bernie Sanders Get Wrong About Credit …

1 week from now

1 day ago · Yet in one place there is already a flicker of cross-aisle agreement: a proposal to cap interest rates on credit-card repayments at 10% has won the support of both Mr Trump and …

economist.com

10%
OFF

Trump's 10% Credit Card Interest Cap Could Hurt Borrowers ... - AOL

1 week from now

Sep 24, 2024 · The average interest rate on credit cards is currently over 20%, with some cards charging as much as 36% APR, said Ted Rossman, a senior industry analyst at Bankrate. “A …

aol.com

10%
OFF

Trump's 10% Rate Cap Plan For Credit Cards Is Bad Math, Experts Say

1 week from now

Sep 20, 2024 · During a Wednesday campaign rally, Trump told a Long Island crowd that "while working Americans catch up," he plans to "put a temporary cap on credit card interest rates" of …

americanbanker.com

$8
OFF

Banks, Credit Cards And Debt Could Lose Regulation Under Trump …

1 week from now

Nov 15, 2024 · The proposal to cap credit card late fees at $8, a significant decrease from the current punishing highs of $30 for a first offense and $41 for a second one, could save US …

bloomberg.com

FAQs about Trump's Bold Plan: Limit Credit Card Interest Rates to 10% – But … Coupon?

Will Trump put a cap on credit card interest rates?

“While working Americans catch up, we’re going to put a temporary cap on credit card interest rates,” Trump told a rowdy crowd of approximately 16,000 at the Nassau Coliseum while outlining his economic plan. “We’re going to cap it at around 10%. We can’t let them make 25 and 30%.” ...

What does Trump's credit card interest rate proposal look like?

It’s noteworthy that Trump’s proposal resembles one from across the aisle. 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.” “Every religion understands that usury and loansharking are immoral. ...

Will trump limit credit card interest rates?

Stephen Yang for the New York Post Former President Donald Trump floated limiting annual credit card interest rates to a maximum of 10% during a campaign stop on Long Island Wednesday night, prompting banking groups to push back against the plan as the Republican version of Democrat Kamala Harris’ widely panned “price controls.” ...

Is Trump's credit card fee limit a good idea?

Speaking with the New York Times ‘s The Daily podcast Friday, Sanders said Trump’s campaign call for limits on credit card fees was “a very good idea.” “If Trump, for example, follows through on his proposal to limit interest rates on credit cards to 10%, which is what he campaigned on, absolutely I will be there,” Sanders said. ...

What is the cap on credit card interest rates?

“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.” The current average for credit card interest rates is 21.5%, according to Federal Reserve data. ...

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. ...