The buzz around capping credit-card APRs at 10% annually sounds appealing on the surface—cheaper borrowing, right? But here's the catch: this policy could backfire hard on millions of regular borrowers.

Why? When lending rates get artificially compressed, lenders tighten credit access. Banks shift risk elsewhere. Subprime borrowers lose access altogether. What looks like consumer protection becomes a trap—less liquidity in the credit market, higher approval hurdles, and smaller credit limits across the board.

It's a reminder that financial policy isn't always what it seems.