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.

The White House is weighing an executive action to enact U.S. President Donald Trump’s call for a cap on credit card interest rates, Bloomberg News reported on Friday, citing people familiar with the ...