No, Credit Card Interest Rate Caps Won't Help Consumers

Solveig Singleton

The Century Foundation has proffered a report to advocate for credit card interest rate caps, on grounds that many Americans carry credit card debt: the headline dramatically declares that this is a crisis.

There is no crisis. Even the Consumer Financial Protection Bureau’s 2025 Consumer Credit Card Market Report notes that credit card balances have been mostly flat for the past ten years, when adjusted for inflation. Indeed, according to Fed data, average total...