What a Credit-Card Interest Rate Cap Would Mean for Consumers

As part of a series of efforts to make life more affordable, President Donald Trump aims to help Americans with credit-card debt. After demanding on social media that credit-card lenders cap interest rates at 10% for a year, the president appealed to Congress on Jan. 21 to make the ceiling law. The rates now average around 20%.

Though lower interest rates would be a positive for some card holders, they could result in many borrowers losing access to credit, or having to borrow from riskier lenders, experts say.