Bilt Unveils Credit Cards Capped at 10% After Trump Demands (1)

Biltis unveiling three new credit cards with interest rates capped at 10%, days after President Donald Trump threatened lenders that failed to do so.

The firm, best known for cards that offer rewards for mortgage and rent payments, will maintain those rates for one year, and they will only apply to new purchases, the company said Wednesday.

“There is clearly a need for affordability at this point in time more than ever,” Bilt Chief Executive Officer Ankur Jain said in an interview. “It felt like we should be the brand to do this.”

Still, many lenders extend introductory offers ...