Bank of America (BAC) and Citigroup (C) weigh new credit cards with 10% rate, Bloomberg reports

The reports that Bank of America and Citigroup are considering new credit cards with a 10% interest rate suggest a strategic move to enhance product offerings amid a rising rate environment.

Newsquawk StaffPublished 22 Jan 2026, 17:25 UTCOn the live feed at 17:05 UTC — 2 more headlines followed before this page went public

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17:16

US President Trump files "debanking" lawsuit vs JPMorgan (JPM) CEO Dimon, Fox reports

17:12

Danish PM says they are a sovereign state and cannot negotiate about that

17:05

Bank of America (BAC) and Citigroup (C) weigh new credit cards with 10% rate, Bloomberg reports

17:02

US 30-yr fixed rate mortgage averages 6.09% in Jan 22 week vs 6.06% prior week

17:00

US EIA Crude Oil Stocks Change (Jan/16) 3.602M vs. Exp. 1.1M (Prev. 3.391M)

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This may position them for improved margins, but could also weigh on consumer demand if rates are perceived as too high. Watch for how this initiative impacts overall sector competitiveness and consumer credit trends.

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