HUGE: President Trump Announces 10% Cap on Credit Card Interest Rates

President Trump just dropped some big news that will help a lot of Americans out financially.

He is calling for a temporary, one-year cap on credit card interest rates at 10%.

HUGE: President Donald J. Trump announces a one year cap on Credit Card Interest Rates of 10% effective January 20, 2026. 💸 pic.twitter.com/WKJ4Fk4SnC

— The White House (@WhiteHouse) January 10, 2026

The rates will be effective from January 20, 2026 to coincide with the one-year anniversary of his triumphant return to the White House.

Read President Trump’s full statement on Truth Social here:

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! 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%.

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! PRESIDENT DONALD J. TRUMP

What a great way to celebrate the one-year anniversary of President Trump’s historic second term.

It will also provide some financial relief for many hard-working Americans.

On the campaign trail, President Trump floated imposing a cap on credit card interest rates to stop companies from ripping us all off.

With average credit card interest rates currently sitting at over 20%, President Trump’s move will slash these in half for one year.

However, it looks like he may need support from Congress to get it done.

Politico has more details:

It is unclear what authority the president could use to impose such a cap without authorization by Congress.

Legislation sponsored by Sen. Bernie Sanders (I-Vt.) and cosponsored by Sen. Josh Hawley (R-Mo.) would impose a 10 percent cap on credit card rates for five years. Similar legislation has been introduced in the House.

The primary regulator with jurisdiction over credit card practices is the Consumer Financial Protection Bureau, an agency that the administration has suggested should not exist and has slashed funding for. Acting Director Russell Vought requested funds for the agency on Friday.

The average annual percentage rate charged on credit card accounts was 22.3 percent as of November, according to Federal Reserve data, up from 12.9 percent in late 2013.

What do you think?

Do you support capping credit card interest rates at 10%?

Here’s what folks are saying on X:

I think this is a great idea & I hope he is able to get it passed. It is ridiculous what the credit companies do to the consumer.

— JulykittenBS (@julykittenBS) January 10, 2026

Usury should be illegal..

— Mr Opp (@MisterOptical) January 10, 2026

BOOM. 20–30%+ credit card APR is legalized theft. A 10% cap puts working Americans first, crushes predatory lenders, and brings real AFFORDABILITY back.

— Global Right (@globalrightx) January 10, 2026

I love this idea, but 10% is still very high.

If you’d rather get ZERO PERCENT through 2027, I’ve got an even better solution for you.

Check this out, available now for a limited time:

Freedom from Interest Payments Starts Now — 0% APR Until 2027

The big banks don’t want you to know this — but you can stop paying them interest right now.

With today’s 0% intro APR credit cards, you can pay off your debt without handing over another dollar in interest until 2027.

Hardworking Americans are using these cards to finally get ahead. Instead of feeding the banks’ profits, they’re using 0% interest to crush their balances for good.

If you’re serious about financial freedom, this is one move that puts you back in control.

(Note: Thank you for supporting businesses like the one presenting a sponsored message in this article and ordering through the included links, which benefits WLTReport. We appreciate your support and I truly hope this can help make your life better!  MAKE AMERICA GREAT AGAIN!)