Americans are drowning in credit card debt. Trump’s proposed cap on interest rates probably won’t help



Americans are drowning in credit card debt. Trump’s proposed cap on interest rates probably won’t help

https://www.cnn.com/2024/09/24/business/trump-credit-card-cap/index.html

by FUSeekMe69

4 comments
  1. >The average American has racked up $6,500 in credit card debt, according to Experian data from the third quarter of last year. This means they’re paying $116 a month in interest rate payments at May’s average rate of 21.5%. But if interest rates were capped at 10%, they’d pay $54 a month in interest rate payments.

    How does this not help? The excuses offered are just “weird”.

  2. LOL Biden’s economy has us drowning in credit card debt, but the author decided that the real story here is that Trump’s cap probably won’t help. YGFSM.

    The real story here is, this economy s*cks. Period. That’s the story.

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