Trump’s 10% Credit Cap: Save THOUSANDS or Lose Credit ACCESS?!
Nearly half of all American households are grappling with credit card debt, often at an average interest rate soaring over 22%. In a dramatic move, President Trump is pressuring credit card companies to slash this to a 10% cap for one year by January 20th, threatening legal action for non-compliance. While this could save thousands for many, offering significant relief on existing balances, financial experts and banking institutions like JPMorgan Chase warn of severe downsides. They caution that an artificial cap could drastically limit access to credit for millions, particularly those with lower credit scores, potentially pushing them towards riskier loans and even dismantling lucrative rewards programs. Understanding these complex implications is crucial for your financial future, so be sure to subscribe to our channel for ongoing updates and expert analysis.
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