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card interest ratesCNBC
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84% Informative
Former President Donald Trump says he would cap credit card interest rates at around 10% .
"Access to credit would dry up," says Ted Rossman , a senior industry analyst at Bankrate .
Even if Trump were in the White House , he would not have the authority to cap interest rates, experts say.
The average interest rate on credit cards is currently over 20% APR .
A 10% interest rate cap could backfire on consumers, in various ways, financial experts say.
Banks would respond by limiting the number of higher risk consumers to whom they agreed to issue credit cards.
Consumer advocates had other concerns about the inadvertent costs of Trump 's proposal.
VR Score
86
Informative language
85
Neutral language
47
Article tone
formal
Language
English
Language complexity
54
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
15
Source diversity
14
Affiliate links
no affiliate links