A bill to limit the interest rate on credit cards has been introduced in Congress. The banking industry says capping rates would have unintended consequences.

A political odd couple is joining forces to lower credit card interest rates. Sen. Bernie Sanders (I-Vt.) and Sen. Josh Hawley (R-Mo.) unveiled a bill that would cap credit card interest rates at 10%.

Factors like your debt-to-income ratio, your income and existing debt all influence the interest rate on your credit card. And consumers who are considered high-risk are approved with a higher interest rate as a way for banks and issuers to compensate for the possibility of default.

Senators Bernie Sanders and Josh Hawley say they will propose a 10 percent limit on credit card interest rates.

There's a bipartisan debate underway in Congress to potentially cap credit card interest rates — and it involves an unlikely pair of lawmakers.

In an unexpected move, two senators from opposite ends of the political spectrum are joining forces to tackle high credit card interest rates. Senator Bernie Sanders, a far-left politician, and Senator Josh Hawley,

There is a bipartisan push in congress to limit interest rates on credit cards to ten percent. While this might face an uphill climb, President Trump did back a credit card cap on the campaign trail.