Balgarianovinite.com
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President Donald Trump demanded a 10% cap on credit card interest rates on Friday, vaguely citing “affordability” as the reason for the change. The demand comes a month after he dismissed the term as a Democratic buzzword.
Trump called for the cap on Truth Social, writing that it should take effect on “the one year anniversary of the historic and very successful Trump Administration.”
“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,” wrote Trump.
The post continued:
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
The president’s apparent embrace of the term “affordability” comes just over a month after he raged over the word in a December Cabinet meeting, calling it a Democratic “con job.”
“There is this fake narrative that the Democrats talk about, affordability. They just say the word. It doesn’t mean anything to anybody. Just say it: Affordability — I inherited the worst inflation in history! There was no affordability, nobody could afford anything,” said Trump, later adding that “the word affordability is a con job by the Democrats.”
A month prior, the president was roundly condemned for telling Fox News White House Correspondent Jacqui Heinrich that he didn’t want to hear about affordability.
“I don’t wanna hear about the affordability because right now, we’re much less,” said Trump.
Candidate Trump promised a cap on credit card interest rates on the campaign trail in 2024, an announcement that was followed by House and Senate proposals in 2025.
In February, Senators Bernie Sanders (I-VT) and Josh Hawley (R-MO) introduced bipartisan legislation to cap credit card interest rates at ten percent– citing the Trump campaign’s words in their announcement. Reps. Alexandria Ocasio-Cortez (D-NY) and Anna Paulina Luna (R-FL) introduced companion legislation in the House the following month.
The post Trump Demands Credit Card Companies Dramatically Slash Rates Because ‘AFFORDABILITY!’ first appeared on Mediaite.
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