President Donald Trump announced Friday night that credit card interest rates will be capped at 10% for one year starting January 20, 2026 — a sweeping move aimed at cracking down on what he described as “predatory” financial practices.
“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!” Trump wrote on Truth Social.
He added that the cap would align with the one-year anniversary of his second administration, calling it a landmark change for working Americans. “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%,” Trump wrote. “Coincidentally, the January 20th date will coincide with the one year anniversary of the historic and very successful Trump Administration. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!”
As of late 2025, the average credit card APR stood at 23.79%, with many Americans being charged well over 25% depending on creditworthiness and the lender. With over $1.2 trillion in collective credit card debt, the cap could bring meaningful relief to millions of Americans. More than 80% of Americans currently own at least one credit card.
The order is part of a broader economic strategy President Trump has unveiled in recent days to combat the affordability crisis. Earlier this week, Trump announced a crackdown on institutional real estate investors, vowing to block large corporate entities from purchasing single-family homes.
“People live in homes, not corporations,” Trump wrote, blasting Wall Street-backed firms for driving up housing prices. He followed that announcement by directing the purchase of $200 billion in mortgage bonds — a move aimed at lowering mortgage rates and monthly payments.
The term “affordability” has become a major theme of the Trump White House’s economic message, as the president increasingly contrasts his policies with those of the previous administration. While it remains to be seen whether legal challenges will arise over the credit card rate cap, the White House appears confident in its authority to act — and is betting big that this message resonates with voters heading into the midterms.
The post Credit Card Interest Rates Could Be Capped At 10% For The Year, Trump Says appeared first on Real News Now.
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