How do credit card companies make money? Interest is only one factor.

Interest is a major source of income for many banks that issue credit cards. And as President Trump continues to push his proposed 10% cap on credit card interest rates, banks are pushing back. In a joint statement released earlier this month, banking industry groups said “a 10% interest rate cap would reduce credit availability and be devastating for millions of American families and small business owners who rely on and value their credit cards, the very consumers this proposal intends to help.” On Wed ...