Will any credit card companies proactively adopt Donald Trump's proposed 10% cap on interest? (I understand this will never actually come to pass). Would it be worth it from am advertising perspective?

likehelpful
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Are you asking if companies would give up profit so people will like them more? Because that answer is pretty clear. If the bill had a chance of passing then maybe getting ahead of it would play well but as you said that’s not gonna happen.

like

Sorry, are you asking if credit card companies will proactively adopt the thing Trump will never enforce?

Think about this for a minute.

likefunny

I think if banks are forced to cap interest rates on credit cards this will make the qualifying process more difficult for people. Guess who gets screwed?

like

CC companies will simply “invest” in a Trump business and all will be forgotten. Extortion at its finest.

like

At least one already is

https://www.cbsnews.com/news/bilt-credit-card-10-percent-interest-rate-cap-trump/

Reading the article, they are offering 10% as an intro rate, so it’ll go up after 12 months.
So they are actually just trying to ride a publicity wave rather than plans to stick to 10% long term- plenty of credit cards offer reduced intro rates to pull people in (I’ve even seen 0%, though not for a year) so it’s nothing new.

smart

I hope not, I like my rewards points!

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