Washington DC (US), January 10, 2026, BNN Web Staff: US President Donald Trump has announced plans to cap credit card interest rates at 10 percent for a period of one year, set to take effect on January 20, 2026.
The proposal, shared on Trump’s Truth Social account and reposted by the White House on X, aims to ease financial pressures on American consumers burdened by high-interest credit card debt.
Trump criticized current credit card rates, which often range from 20 to 30 percent or higher, calling them exploitative and a lingering consequence of policies during the Biden administration. The one-year cap is presented as a measure to make borrowing more affordable and prevent Americans from being “ripped off” by credit card companies.
The announcement also carries symbolic timing, coinciding with the one-year anniversary of Trump’s administration. In his post, Trump emphasized the goal of consumer affordability and framed the measure as part of his broader effort to protect the financial interests of Americans.
The proposed cap would be temporary, lasting for a year, while Trump urged credit card companies to comply and ensure consumers are shielded from excessive interest charges. The initiative highlights growing concerns over credit accessibility and the burden of high-interest debt on households across the United States.
