AOC wants to cap your credit card interest at 10%. A chart shows how current rates dwarf that amount.

Rep. Alexandria Ocasio-Cortez is aiming to cap credit card interest rates at 10% in a new bill she proposed to Congress last month.

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• Rep. Alexandria Ocasio-Cortez introduced a bill that would cap credit card interest rates at 10%.
• The average annual percentage rate on credit balances has jumped to 21% in 2024 from 12% in 2003.
• More people are falling behind on monthly payments, showing signs of consumer stress.

Americans' credit card debt is at an all-time high.