More Than 8 in 10 American Cardholders Support Credit Card Interest Rate Cap, but Approval Wanes When Asked About Ramifications
(World News USA)

CHARLOTTE, N.C., June 26, 2019 /PRNewswire/ -- More than 8 in 10 American credit cardholders would support some version of a credit card interest rate cap similar to the one recently proposed by Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez, according to a new report from CompareCards.com. However, the report showed major cracks in support for a cap when cardholders were asked about what could happen if a cap took effect. CompareCards.com surveyed more than 1,000 credit cardholders for their views on the May 2019 proposal from Sen. Sanders (D-VT), one of the leading contenders for the 2020 Democratic presidential nomination, and Rep. Ocasio-Cortez (D-NY) to cap credit...