President Donald Trump said on Jan. 9 that he would call for a one-year cap on credit card interest rates of 10 percent, potentially starting later this month, though its enforcement may depend on Congress.
In a Truth Social post, Trump said that Americans are being “ripped off” by credit card companies that charge interest rates between 20 and 30 percent, and vowed his administration will put an end to it.
“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%,” the president stated.
The cap’s proposed start date coincides with the anniversary of Trump’s second-term inauguration and, if implemented, would fulfill his 2024 election campaign pledge….
Trump Calls for Temporary 10 Percent Cap on Credit Card Interest Rates
