Capital 1, credit cards dive
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Rep. Alexandria Ocasio-Cortez introduced a bill that would cap credit card interest rates at 10%. The average annual percentage rate on credit balances has jumped to 21% in 2024 from 12% in 2003. More people are falling behind on monthly payments, showing ...
On Tuesday, two U.S. senators proposed a bill that would cap credit card interest rates at 10%. While a 10% cap would help consumers exponentially with their credit card debt, it could have unintended consequences. A cap could mean credit card debt relief ...