Consumers could see relief from high-interest credit card debt with Trump’s proposal to cap rates at 10%, but experts are skeptical of its long-term impact and Congressional approval. Vivian Tu breaks down who benefits and who might be worse off under the plan. Some worry lower rates could limit credit access for high-risk borrowers. Critics warn a cap could hurt credit card issuers’ revenue and access to credit for lower credit scores. Despite potential benefits, concerns remain about unintended consequences on the economy. Congressional support for the proposal is uncertain, with mixed opinions on its impact and feasibility. Regardless of the outcome, the proposal sparks broader conversations about affordability and financial well-being.

Read more at Yahoo Finance: Who Benefits From Trump’s Proposed Credit Card Interest Cap? Vivian Tu Breaks It Down