Will Trump’s 10% Credit Card Cap Really Happen?

United States president, Donald Trump recently made a big statement as he said credit card companies must cap the annual interest percentage at 10%. Now he has followed up on the same, and here is what he had to say on this matter.

US President Donald Trump has sparked a fresh debate by openly questioning why credit card interest rates in the United States cannot be limited to 10 percent. Speaking candidly, Trump pointed out that most credit card companies currently charge very high interest rates, often crossing 25 percent, which puts a heavy burden on ordinary Americans.

Trump said credit card firms make huge profits and that lowering interest rates would directly help families struggling with rising costs. According to him, a 10 percent cap would give people breathing space, reduce debt pressure and allow them to spend money on essentials instead of paying endless interest. He argued that such a move would be fair and practical, especially at a time when inflation and borrowing costs are hurting middle class households.

However, the idea has not gone down well with banking leaders. Major financial institutions have warned that a strict interest cap could reduce access to credit, particularly for people with lower credit scores. They claim banks may cut back on lending or remove rewards and benefits linked to credit cards.

As of now, Trump’s proposal is only a suggestion and would require approval from Congress to become law. Still, his comments have triggered a serious discussion on consumer protection, corporate profits and whether the current credit card system truly works in favor of the public.