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A bill would cap credit card rates at 10%, something Trump promised on the campaign trail. Will Trump follow through? Will consumers benefit?

Commissions do not affect our editors' opinions or evaluations. Forbes Advisor’s weekly credit card rates report indicates that the current average credit card interest rate is 28.72%.

A new bipartisan bill introduced by a pair of senators would cap credit card interest rates in an effort to help consumers and fulfill one of President Donald Trump's campaign promises.

Sens. Bernie Sanders (I-VT) and Josh Hawley (R-MO) introduced the bill on Thursday that would cap credit card interest rates for five years. The bill has been referred to the Committee on Banking ...