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ABA: The American Bankers Association
Report

What’s at Stake for American Consumers Under a Credit Card Interest Rate Cap

  • Published January 16, 2026

A credit card interest rate cap would do the opposite of promoting affordability. Protect hardworking Americans and reject government-mandated interest rate caps.

New data from credit card issuers accounting for roughly 75% of the market shows that a proposed 10% federal credit card interest rate cap would mean up to 85% of open credit card accounts nationwide would be closed or have their credit lines drastically reduced, including up to 84% of borrowers with credit scores over 600. In other words, up to 159 million consumers would no longer be able to use their cards.

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State-By-State Impact of Credit Card Rate Cap

This table shows the estimated number and share of cardholders in each state that would lose access to credit under a 10% effective APR cap (Hawley-Sanders, S.381)

Download the table as a PDF

Share of Open Accounts Losing Access to Credit Number of Cardholders Share of Cardholders Losing Access to Credit
State Low Estimate High Estimate Low Estimate (>600 VantageScore) High Estimate (>600 VantageScore) Number Losing Access — Low (>600 VantageScore) Number Losing Access — High (>600 VantageScore) Low Estimate (>600 VantageScore) High Estimate (>600 VantageScore) Number Losing Access — Low (>600 VantageScore) Number Losing Access — High (>600 VantageScore)
Nationwide 73.6% 85.5% 136,872,000 159,059,000 117,706,000 139,715,000 73.5% 85.4% 70.5% 83.7%
AK 73.9% 85.9% 270,000 316,000 240,000 285,000 73.0% 85.3% 70.8% 84.0%
AL 76.1% 87.3% 1,811,000 2,078,000 1,481,000 1,746,000 75.8% 87.0% 72.1% 85.0%
AR 75.8% 87.1% 1,079,000 1,242,000 898,000 1,060,000 75.5% 86.9% 72.1% 85.0%
AZ 73.9% 85.6% 3,002,000 3,483,000 2,567,000 3,044,000 73.7% 85.5% 70.7% 83.8%
CA 73.1% 85.1% 16,596,000 19,351,000 14,570,000 17,306,000 73.0% 85.1% 70.5% 83.7%
CO 72.1% 84.3% 2,499,000 2,932,000 2,217,000 2,646,000 71.6% 84.0% 69.2% 82.6%
CT 72.8% 84.8% 1,589,000 1,855,000 1,381,000 1,646,000 72.4% 84.6% 69.6% 83.0%
DC 72.8% 84.8% 271,000 315,000 230,000 274,000 73.2% 85.1% 70.0% 83.3%
DE 73.4% 85.2% 446,000 517,000 377,000 448,000 73.2% 85.1% 70.0% 83.2%
FL 74.7% 86.3% 10,470,000 12,079,000 8,799,000 10,392,000 74.9% 86.4% 71.6% 84.6%
GA 76.1% 87.2% 4,408,000 5,045,000 3,532,000 4,162,000 76.1% 87.2% 72.1% 84.9%
HI 71.7% 84.2% 566,000 665,000 512,000 611,000 71.6% 84.1% 69.6% 83.0%
IA 72.0% 84.2% 1,223,000 1,436,000 1,092,000 1,305,000 71.5% 84.0% 69.2% 82.7%
ID 72.5% 84.7% 781,000 916,000 698,000 831,000 72.0% 84.4% 69.8% 83.2%
IL 72.9% 84.9% 5,198,000 6,061,000 4,512,000 5,368,000 72.7% 84.8% 69.9% 83.2%
IN 73.7% 85.5% 2,611,000 3,035,000 2,246,000 2,666,000 73.4% 85.4% 70.5% 83.7%
KS 72.8% 84.9% 1,089,000 1,273,000 958,000 1,141,000 72.5% 84.7% 70.0% 83.3%
KY 74.3% 86.0% 1,647,000 1,908,000 1,406,000 1,665,000 74.2% 86.0% 71.2% 84.3%
LA 76.4% 87.5% 1,614,000 1,847,000 1,298,000 1,528,000 76.4% 87.4% 72.4% 85.2%
MA 71.5% 83.9% 3,051,000 3,585,000 2,725,000 3,256,000 71.4% 83.9% 69.1% 82.6%
MD 73.7% 85.4% 2,650,000 3,074,000 2,242,000 2,662,000 73.6% 85.4% 70.4% 83.5%
ME 72.0% 84.3% 587,000 690,000 528,000 630,000 71.4% 83.9% 69.3% 82.7%
MI 72.9% 84.9% 4,015,000 4,683,000 3,487,000 4,150,000 72.7% 84.8% 70.0% 83.3%
MN 70.4% 83.1% 2,330,000 2,755,000 2,120,000 2,544,000 70.1% 82.9% 68.2% 81.8%
MO 73.2% 85.1% 2,379,000 2,771,000 2,063,000 2,452,000 73.0% 85.0% 70.2% 83.5%
MS 77.9% 88.6% 1,001,000 1,138,000 789,000 924,000 77.8% 88.4% 73.6% 86.2%
MT 72.3% 84.6% 445,000 523,000 401,000 479,000 71.5% 84.1% 69.5% 82.9%
NC 74.5% 86.0% 4,375,000 5,060,000 3,668,000 4,347,000 74.3% 85.9% 70.9% 84.0%
ND 72.1% 84.4% 304,000 357,000 272,000 325,000 71.5% 84.0% 69.3% 82.8%
NE 72.3% 84.5% 774,000 907,000 687,000 819,000 71.9% 84.3% 69.5% 82.9%
NH 71.1% 83.6% 632,000 746,000 572,000 685,000 70.6% 83.3% 68.5% 82.1%
NJ 72.4% 84.6% 4,171,000 4,867,000 3,631,000 4,323,000 72.6% 84.7% 69.8% 83.1%
NM 75.0% 86.6% 767,000 888,000 657,000 776,000 74.6% 86.3% 71.7% 84.7%
NV 75.2% 86.6% 1,388,000 1,598,000 1,155,000 1,363,000 75.3% 86.6% 71.8% 84.8%
NY 73.5% 85.4% 8,341,000 9,706,000 7,224,000 8,579,000 73.4% 85.4% 70.6% 83.8%
OH 73.1% 85.0% 4,712,000 5,486,000 4,055,000 4,823,000 73.0% 84.9% 70.0% 83.3%
OK 75.5% 86.9% 1,394,000 1,607,000 1,177,000 1,389,000 75.2% 86.8% 72.1% 85.1%
OR 72.5% 84.7% 1,757,000 2,061,000 1,567,000 1,869,000 71.9% 84.3% 69.6% 83.0%
PA 72.5% 84.5% 5,324,000 6,216,000 4,610,000 5,495,000 72.4% 84.5% 69.5% 82.8%
RI 72.8% 84.8% 469,000 547,000 408,000 486,000 72.6% 84.7% 69.9% 83.2%
SC 74.9% 86.4% 2,150,000 2,478,000 1,777,000 2,102,000 74.8% 86.2% 71.2% 84.2%
SD 71.6% 84.0% 345,000 407,000 313,000 374,000 71.0% 83.7% 69.0% 82.5%
TN 74.4% 86.1% 2,689,000 3,116,000 2,292,000 2,716,000 74.1% 85.9% 71.1% 84.2%
TX 76.0% 87.2% 11,850,000 13,597,000 9,785,000 11,513,000 76.0% 87.2% 72.5% 85.3%
UT 72.2% 84.5% 1,332,000 1,562,000 1,197,000 1,426,000 72.1% 84.6% 70.0% 83.4%
VA 72.7% 84.8% 3,653,000 4,262,000 3,170,000 3,774,000 72.6% 84.7% 69.8% 83.1%
VT 71.3% 83.8% 260,000 308,000 238,000 285,000 70.4% 83.2% 68.6% 82.2%
WA 71.7% 84.1% 3,291,000 3,871,000 2,963,000 3,540,000 71.3% 83.9% 69.2% 82.7%
WI 70.8% 83.3% 2,383,000 2,815,000 2,162,000 2,592,000 70.4% 83.1% 68.4% 82.0%
WV 75.5% 86.9% 664,000 765,000 558,000 658,000 75.1% 86.6% 71.8% 84.8%
WY 73.2% 85.2% 222,000 260,000 198,000 236,000 72.2% 84.6% 69.9% 83.3%

A credit card interest rate cap would do the opposite of promoting affordability.

Protect hardworking Americans and reject government-mandated interest rate caps.

Learn More and Take Action

Our Experts

Thomas J. Rosenkoetter

Tom Rosenkoetter

SVP, Executive Director, Card Policy Council

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Sarah Grano

(202) 663-5470

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