Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of billions of dollars but drew immediate opposition from an industry that has been in his corner.

President Donald Trump says he wants a one-year, 10% cap on credit card interest rates.

The White House did not respond to questions about how Trump seeks to cap the rate or whether he has spoken with credit card companies about the idea.

Trump announces 10% credit card interest cap for 2026. The policy could boost consumer spending and crypto markets or trigger bank lending cuts