Trump wants to cap credit card interest to 10% for a year. Should Australia consider it?
- Written by Ama Samarasinghe, Lecturer, Financial Planning and Tax, RMIT University
US President Donald Trump has called for a one year cap on credit card interest rate charges at 10% – around half of the average current US rate – starting from January 20.
Vanderbilt University analysis from September last year found there were “astronomical profit margins in the [US] credit card market”. It concluded a...
Read more: Trump wants to cap credit card interest to 10% for a year. Should Australia consider it?
