Fintech giant Bilt announced an overhaul of its credit cards on Wednesday, which notably will include an introductory rate on all card users’ interest rates at 10% for one year. The promotion comes at a time of heightened political rhetoric around the cost of credit cards,

President Donald Trump's call for putting a one-year, 10% cap on credit card rates certainly catches the eye — and no surprise, has caught the wrath of bankers.

Industry analysis submitted by the Electronic Payments Coalition estimates that between 82% and 88% of existing card accounts — essentially all accounts tied to credit scores under 740 — would be clos...