Trump’s Plan to Cap Credit-Card Rates Has Risks for Consumers

While the intention behind capping credit-card rates is to provide relief, it is crucial to consider the potential unintended consequences. Limiting rates may lead credit card companies to tighten lending standards, which could exclude high-risk borrowers from accessing credit altogether. This could create a paradox where those the policy intends to help find themselves with fewer options, ultimately exacerbating their financial struggles.