10% Credit Card Cap: 5 Moves Trump Says Will Save Americans
President Trump announces a 10% credit card interest cap, calling it a major affordability win and a bold consumer protection move starting Jan. 20, 2026.
In a bold move aimed directly at household finances, President Donald J. Trump has announced a sweeping proposal to cap credit card interest rates — a decision already igniting intense debate across Washington and Wall Street.
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President Trump declared that the American public will no longer be “ripped off” by credit card companies charging interest rates between 20 and 30 percent — and in some cases, even higher.
Effective January 20, 2026, Trump says his administration will impose a one-year national credit card interest cap of 10 percent, calling it a necessary step to restore affordability for working Americans.
The President blamed soaring interest rates on what he described as years of inaction under the Biden administration, saying financial institutions were allowed to operate “unimpeded” while families struggled with mounting debt.
Trump emphasized that the policy aligns with his administration’s broader consumer affordability agenda, arguing that excessive interest rates have trapped millions of Americans in cycles of debt.
The January 20 implementation date also carries symbolic weight — marking the one-year anniversary of what Trump calls a “historic and very successful” return to the White House.
Supporters praise the move as a long-overdue correction that could offer immediate relief to households burdened by high balances and rising costs of living.
However, critics warn the cap could disrupt lending markets, reduce credit availability, and pressure banks to tighten approval standards.
Financial analysts say the proposal, if enacted, would represent one of the most aggressive federal interventions into consumer credit pricing in modern U.S. history.
As Washington braces for debate, one thing is clear: credit card rates — and the cost of borrowing — are now front-and-center in the national political conversation.
With affordability shaping the 2026 economic narrative, this proposal could become one of the most defining — and controversial — policies of President Trump’s second term.
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