BofA Considers New Credit Cards with 10% Interest Rate, Source Says

Bank of America may introduce credit card with 10% APR

Facing pressure from President Trump, credit card issuers are exploring ways to ease borrowing costs.

2 major banks considering new cards with capped 10% interest rate

Bloomberg reports Bank of America and Citigroup are considering new cards with interest rates capped at 10%, a proposal brought forth by President Trump.

Bank of America considers new credit card capped at 10% interest

Bank of America is considering whether to offer a credit card with interest capped at 10% for a year, a source told NBC News

Bank of America, Citigroup Weigh New Credit Cards With 10% Rate

Bank of America and Citigroup are exploring options they could offer up as an olive branch to satisfy President Donald Trump’s demand to cap credit card interest rates at 10% for one year. Saul Martinez, Head of US Financials Research at HSBC says that the proposed 10% cap on credit card interest rates would be difficult to implement without new legislation and is unlikely to materially change bank profitability in the near term. He joined the di

BofA considers new credit cards with 10% interest rate, source says