CHARLESTON, S.C. — The National Taxpayers Union has launched a billboard campaign near Charleston International Airport warning that proposed caps on credit card interest rates could restrict access to credit for consumers.
The group said three digital billboards were installed this week highlighting what it described as unintended consequences of rate cap proposals. The signs carry the message: “Credit Card Rate Caps Hurt Working Families. Protect Access To Credit.”
“Capping interest rates may sound helpful on paper, but, in reality, it pushes lenders to tighten access to credit,” said Thomas Aiello, vice president for federal affairs at the National Taxpayers Union, in a statement. “That means fewer options for families who need flexibility to cover emergencies, manage cash flow, or build financial stability.”
According to the organization, the billboards are located along North Rhett Avenue near Interstate 526, Remount Road east of Rivers Avenue, and Ashley Phosphate Road near Cross County Road.
‘May Result in Fewer Approvals’
The National Taxpayers Union said proposals to cap credit card rates, often framed as consumer protection measures, can lead lenders to reduce credit availability, particularly for borrowers with lower credit scores or limited credit histories. The group argued that restricting risk-based pricing may result in fewer approvals or lower credit limits, potentially increasing reliance on government-backed lending programs.
The Charleston placements are part of a broader campaign that includes digital advertising in North Carolina, Washington, D.C., and Arkansas, the organization said.
The National Taxpayers Union describes itself as a free-market advocacy group focused on limiting taxes, government spending and regulation.
