The financial industry is already pushing back against President Trump’s calls to put a 1-year cap on credit card interest rates at 10%. The President declared on Truth Social, “Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration. AFFORDABILITY!
Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%. Coincidentally, the January 20th date will coincide with the one year anniversary of the historic and very successful Trump Administration.”
“I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%.”
In what will surely be hailed as a massive gift to America, President Donald Trump announced Friday night that all credit card interest rates will be capped at 10% for one year. This would lift the burden for many Americans who have been struggling under the weight of high-interest rate debt.
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