President Donald Trump said in a Truth Social post that he will seek to impose a one-year cap on credit card interest rates at 10%, starting January 20, 2026, as part of an effort to reduce borrowing costs for consumers.
- Trump said the proposed cap would limit credit card interest rates currently ranging from 20% to 30%.
- The policy would take effect on January 20, 2026, marking one year into his current administration.
- He framed the proposal as part of a broader affordability initiative aimed at lowering household financial burdens.
- The announcement was made via Truth Social and has not yet been accompanied by formal regulatory or legislative details.
- Any nationwide rate cap would likely require congressional action or regulatory coordination with financial agencies.
Relevant Companies
- Visa ($V): Lower interest rate caps could affect issuer economics and transaction volumes across major card networks.
- Mastercard ($MA): Policy changes impacting credit card pricing could influence usage patterns and network fees.
- American Express ($AXP): As both a network and issuer, AmEx could see direct effects on interest income from cardholders.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
