"Bilt Rewards announced a new suite of credit cards on Wednesday called "Bilt 2.0," which will offers new cardholders 10% interest rates for their first year. Bilt is known for allowing users to earn rewards on rent and mortgage payments without the related fees associated with other credit cards. The company unveiled three cards, including: The Bilt Blue Card, with no annual fee; The Bilt Obsidian Card, with a $95 annual fee; The Bilt Palladium Card, with a $495 annual fee."
"Trump called for the 10% cap in a Truth Social post on Friday, saying that he will "no longer let the American Public be 'ripped off' by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more.' For now, any action taken by credit card companies is voluntary. Trump can't make the change by himself - he'll need an act of Congress in order to do so."
President Donald Trump called for capping credit card interest rates at 10% and said he will not let consumers be "ripped off" by high rates. Bilt Rewards launched a "Bilt 2.0" suite offering new cardholders 10% interest for the first year and unveiled three cards with varying annual fees: the Bilt Blue (no fee), the Bilt Obsidian ($95), and the Bilt Palladium ($495). After one year, rates will rise to roughly 26.74%–37.47% depending on the card. Any industry-wide cap would require congressional action; a bipartisan bill would cap rates at 10% for five years. House leadership warned of potential lending restrictions if caps were imposed.
Read at Business Insider
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