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Fortune
Fortune
Preston Fore

Bernie Sanders and Donald Trump agree that credit card interest rates are too high. A new bill in Congress to cap them could do more harm than good, experts say

Senator Bernie Sanders. (Credit: Chip Somodevilla—Getty Images)

Credit cards are the sharpest double-edged sword in Americans’ personal finance arsenal.

They can be an indispensable tool for coping with financial hardship, a great way to finance your family vacation, or a free pass granting access to luxury lounges at the airport. But for many consumers, they can also be a debt trap with no escape.

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