President Trump is pushing for a 10% cap on credit card interest rates, but banks are resisting, saying it would harm consumers and small businesses. JPMorgan Chase CEO Jamie Dimon warns of economic disaster and suggests testing the cap in just two states.

Credit card companies make money through processing fees, interest charges, and other fees. Interchange fees, set by card networks, are a major revenue source. Interest charges account for 80% of credit card profitability. Variable APRs can change based on credit history and federal interest rates.

Credit card fees can add up, including annual fees, balance transfer fees, late payment fees, foreign transaction fees, and cash advance fees. Avoiding these fees by paying balances in full and on time can help build a great credit score. Using a balance transfer card can help pay off debt interest-free.

Read more at Yahoo Finance: How do credit card companies make money? Interest is only one factor.