President Trump's Recent Statement on Credit Card Interest Rates

On January 9 or 10, 2026 (based on reporting from multiple outlets), President Donald Trump posted on Truth Social announcing his call for a one-year cap on credit card interest rates at 10%, effective January 20, 2026 — marking the one-year anniversary of his second inauguration

"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%."

This revives a pledge he made during the 2024 campaign, amid record-high U.S. credit card debt (over $1.1 trillion in recent quarters) and average interest rates hovering around 19-21% according to Federal Reserve data and industry trackers.