"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%."
"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."
President Donald Trump demanded a one-year cap on credit card interest rates of 10% effective January 20, 2026. He posted the demand on Truth Social, saying credit card companies charge interest rates of 20 to 30 percent and higher and calling for affordability. The post tied the effective date to the first anniversary of his administration and included campaign-style closing language. The demand follows his recent public criticism of the term "affordability," which he previously called a Democratic con job and said he did not want to hear about. He previously promised a cap on the campaign trail and legislative proposals followed.
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