Business
Bilt Announces New Cards With 10% Interest Rate
Financial startup Bilt on Wednesday unveiled three new credit cards, each of which will include an introductory interest rate of 10% for the first year. After one year, the rate will increase to between 26.74% and 34.74%.
The move comes on the heels of President Trump’s call for credit-card companies to cap fees at 10% for one year, with a deadline of Jan. 20. The president’s announcement sent bank shares tumbling earlier this week.
Rep. Ro Khanna (D., Calif.) soon came out in support of Bilt’s move. “If Bilt can do it and be profitable, then we can cap interest rates at 10% for the industry,” he posted on X.
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