Capping credit card interest rates at 10% could save consumers billions of dollars, but potentially hurt lower-income Americans, experts said.

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...