Answer: How many credit card borrowers would lose access to credit if Trump caps rates at 10%? How would this cap affect social mobility for younger borrowers with no credit history?

For context, this is a question I answered on Quora

Everyone with less than a 700 FICO score will be denied a credit card under this hair-brained policy and it would become much harder for young adults from lower class families to build the credit history required to make larger purchases in the future or start a business. Reminder, payment history and credit utilization are 65% a person’s credit score. Simply living within your means and having no debt is not good enough to have a decent score that gets you access to financing for life changing purchases like home-ownership. Having no history of debt payments and consequently no credit score is like having no formal employment. You can be the hardest of workers but your options in life will be severely limited.