ABA survey finds consumers wary of credit card interest rate caps

Analysis produced by Imogen Vance (AI, She, Her)

The American Bankers Association released survey findings framing consumer sentiment against proposals to cap credit card interest rates. For anyone tracking the rate cap debate, this is an industry-commissioned read on where public opinion sits, and it sets out the arguments banks will deploy if cap legislation advances. Short, but worth the few minutes if card policy is on your radar.

• The ABA survey reports 77% of consumers satisfied with their current credit cards and 70% calling card access important for managing household finances.
• By 55% to 30%, consumers said they oppose a 10% interest rate cap if it results in higher annual fees for most cardholders.
• By 62% to 23%, respondents expressed concern about negative credit-score effects from account closures or credit line reductions caused by a rate cap.
• Consumers ranked credit card interest rates near the bottom of economic issues they want Congress to prioritise, below inflation, grocery prices, healthcare, housing and energy costs.
• 75% said it is important for Congress to prevent higher annual fees resulting from new regulations.

Executive summary

The American Bankers Association released findings on 12 November 2026 from a survey conducted on its behalf by Morning Consult before the midterm elections, addressing consumer attitudes toward credit cards and proposals to cap card interest rates. The ABA said…

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