Trump to cap credit card interest rates at 10%

[Morphine Prince 109,653]

President Donald Trump on Friday called for a one-year, 10% cap on credit card interest rates, saying the American public is being “ripped off” in a Truth Social post.

Trump called for the cap to come into effect on January 20, the one-year anniversary of his return to the White House. But he did not specify how a cap might happen, including whether he was calling for voluntary participation from credit card companies or looking for government mechanisms to enforce his proposal.

In his post, Trump cited “AFFORDABILITY!” as a rationale for the temporary cap, which he also proposedon the campaign trail in September 2024.

The cost-of-living issue has become a source of increasing frustration for many Americans and a political liability for Trump and Republicans. Years of accumulated inflation have heaped on price pressures, and Trump blamed his predecessor, former President Joe Biden, for high credit card rates.

But supporting caps on credit card rates represents something of an about-face for Trump, whose administration last year ditched an $8 credit card fee limit imposed by the Biden administration. The Consumer Financial Protection Bureau at the time estimated that the Biden administration’s action would save families more than $10 billion a year by cutting fees from an average of $32.

A federal judge initially blocked that effort in 2024, and the Trump administration last year joined sides with the banks that had sued to stop the rule’s enactment.

Source: https://www.cnn.com/2026/01/09/business/affordability-trump-cap-credit-card-interest-rates

 

[PornoDanceFight 1,987]

I thought “affordability” was a Democratic/leftist/communist/antifa scam 

[Lucas 31,101]

This Trump spam everyday... can we mute words or tags on this forum?

Edited January 11 by Lucas

[ALGAYDO 35,062]

3 minutes ago, Lucas said:

This Trump spam everyday... can we mute words or tags on this forum?

Ignoring the world won’t make it better tho 

[Morphine Prince 109,653]

9 minutes ago, Lucas said:

This Trump spam everyday... can we mute words or tags on this forum?

There is no “Trump spam everyday” 

Go through the World News section and there is no evidence of this. 

If you don’t care to discuss a topic, just don’t enter the thread.

These types of replies need to start being warned. 

Edited January 11 by Morphine Prince

[Zaskar 4,027]

A rare W from the crapbag

[Economy 52,842]

If its a rip off scam, why cap it for only 1 year???? 

 

I dont get these random pauses the governments wanna announce sometime. Either fix an issue properly or if ur not gonna do it dont pertend to.

 

1 year. Just long enough to get him thru mid terms

[Morphine Prince 109,653]

Just now, Economy said:

If its a rip off scam, why cap it for only 1 year???? 

 

I dont get these random pauses the governments wanna announce sometime. Either fix an issue properly or if ur not gonna do it dont pertend to.

 

1 year. Just long enough to get him thru mid terms

Midterms. 

I also saw someone say capping interest might reduce credit card rewards because companies will have less money to fund those programs.

For people who pay off their credit cards every month or who pay little interest, the incentive of rewards is the only reason they use a credit card. 

[Bronco 24,878]

Oh no. 
The "why are we talking about Taylor Swift on GAGAdaily" discourse has hit the world news threads. 

[Ladle Ghoulash 52,603]

39 minutes ago, Lucas said:

This Trump spam everyday... can we mute words or tags on this forum?

You can just not click the thread. We’ve already had this conversation, diva. 

[PartySick 172,467]

For one year  

Literally JUST for the midterms

What a slimy little cretin. Truly embarrassing. I hope the majority of Americans understand how pathetic he is and how useless he is, thinking he can soothe some of the lowest approval ratings in American history by giving people a 10% cap on credit card interest.

[StarstruckIllusion 53,563]

1 hour ago, ****oDanceFight said:

I thought “affordability” was a Democratic/leftist/communist/antifa scam 

He cannot hold once stance for more than 30 seconds except racism like lmfaoooo

[Monstermilo 5,471]

but his policies have made life unaffordable, ppl are getting laid off left and right, and he wants to garnish wages for student loans......... this means barely anything what a performative POS. 

 

[NeanderthalDavid 800]

Honestly, I’ve been in debt since facing two back to back lay offs. This is enough grace I need to pay it off. Agreed on the rare W for the annoying Cheeto. Let’s see if it even happens though 

Edited January 11 by Davidsdaze

[HEARTSTOP 3,154]

I might be sidetracking here but I must say: facilitating credit for daily stuff might seem good but it's terrible. Look at Brazil splitting their bread bill into 6-10 monthly installments, for example. I've seen how my family could never get rid of credits because they are not well financially educated. We were damn poor even though we made enough money to live comfortably, all because credit was so accessible that my family just got it for everything without a second thought. At a certain point, all of our income would go to credits at the start of the month, and at the end of the month we had nothing to eat...but hey! at least we "had" 5 TVs and 3 cars (which were replaced as soon as the old credit was over)...

It was like that until there were finally some control measures implemented that made it harder to get a credit. Make no mistake, low or high interest, you're always losing and the banks are always winning. 

And yes, I do recognize that sometimes people have necessities that a credit can help cover, if you're responsible, but these are not as usual as one might think. Being financially educated and organised helps a lot more in the long run.