A proposed 10% cap on credit card interest rates could restrict access to credit for millions of Americans. Industry experts agree that a 10% interest rate cap could lead to the cancellation or severe restriction of credit card accounts for up to 90% of cardholders – specifically those with credit scores below 740.

WASHINGTON — Republicans on Capitol Hill don’t like President Donald Trump’s proposal to cap credit card interest rates at 10%, shooting down the latest attempt by the president to lean into populist ...