A political odd couple is joining forces to lower credit card interest rates. Sen. Bernie Sanders (I-Vt.) and Sen. Josh Hawley (R-Mo.) unveiled a bill that would cap credit card interest rates at 10%.

Factors like your debt-to-income ratio, your income and existing debt all influence the interest rate on your credit card. And consumers who are considered high-risk are approved with a higher interest rate as a way for banks and issuers to compensate for the possibility of default.

Sen. Bernie Sanders of Vermont and Sen. Josh Hawley, a Republican from Missouri, introduced legislation to cap credit card interest rates at 10%.

There's a bipartisan debate underway in Congress to potentially cap credit card interest rates — and it involves an unlikely pair of lawmakers.

A new bill sponsored by Sens. Sanders and Hawley would cap credit card APRs, but that could reduce access to credit and credit card rewards programs.

Sanders and Hawley’s bill comes after President Donald Trump vowed in the 2024 race to temporarily cap credit card interest rates at 10%.

There is a bipartisan push in congress to limit interest rates on credit cards to ten percent. While this might face an uphill climb, President Trump did back a credit card cap on the campaign trail.