Bilt offers credit cards with temporary 10% APR after Trump proposes interest-rate cap

Financial technology company Bilt, whose credit cards offer customer rewards for rent and mortgage payments, introduced three new credit cards on Wednesday that cap interest rates at 10% for one year.
The offer, which will only apply to new purchases, comes after President Trump this week floated a 10% ceiling on the interest rates credit card issuers charge customers. The proposal drew immediate pushback from Citi, JP Morgan Chase and other major banks, which say it would result in some consumers losing access to credit and hurt the U.S. economy.
By contrast, New York-based Bilt pounced on the opportunity to promote its cards as financial products that can help Americans facing an affordability crunch.