Bank of America and Citi Explore New Credit Cards with 10% Interest Rate

TLDR Bank of America and Citigroup are considering credit cards with a 10% interest rate to meet Trump’s demand. The banks face challenges balancing affordability with profitability when offering cards at a 10% rate. Some banks, like Bilt, have already introduced 10% rate cards for a one-year period in response to the proposal. Bank CEOs [...]

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