Bilt Offers Credit Cards with Temporary 10% APR After Trump Proposes Interest-Rate Cap

Experts warn proposed credit card rate cap could hurt low-income borrowers

EL PASO, Texas (KVIA)-- According to LendingTree, the average interest rate on credit cards is now nearly 24%. Last week, President Trump said on social media he wants a one-year cap on credit card interest rates at 10%, something he campaigned on. “Lenders use higher interest rates to help offset higher risk,” said Brian Mirau, an investment adviser with more than 40 years of experience in financial services. Mirau said banks and credit unions …

Trump floats 10% credit card interest rate cap as credit card debt hits record high

Start your morning with The National News Desk as Jan Jeffcoat sits down with Executive Vice President of National Taxpayers Union Brandon Arnold.

Trump pushes a 1-year, 10% cap on credit card interest rates and banks balk

President Donald Trump says he wants a one-year, 10% cap on credit card interest rates. It's an idea that revives a campaign pledge and could save Americans tens of billions of dollars. But it's drawing immediate opposition from an industry…

Bilt offers credit cards with temporary 10% APR after Trump proposes interest-rate cap

FIntech company Bilt pounced on the opportunity to roll out low-APR credi cards, as big banks push back on proposed rate cap.

US banks push back on Trump’s call for a 10% credit card rate cap

Donald Trump’s call for credit card companies to cap interest rates at 10% weighed on markets and sparked pushback from major lenders.The US president’s populist push — which comes as banks reported mixed earnings Wednesday — threatens a blistering stock rally, as investors eye possible threats instead of celebrating the prospect of limitless gains. Nobody in banking thinks it’s going to be beer and skittles forever,” one finance attorney said.“…