President Trump's proposal to cap credit card interest rates at 10% for one year could save consumers billions of dollars but hurt Americans with lower credit scores, according to financial experts.

President Donald Trump called for credit card companies to cap interest rates at 10%, roughly half the industry average, effective Jan. 20. That date arrived, and credit card rates have hardly budged.

President Donald Trump is calling for a 10% cap on credit card interest rates. The average credit card interest rate was recently reported to be between 19.65% and 21.39%. Bipartisan bills to cap ...

On Jan. 9, President Donald Trump called for a one-year, 10% cap on credit card interest rates. The declaration on social media is not binding and is more of a request than an order. Such a cap would ...

This article originally appeared on PolitiFact.comAmid voter concern about the economy and affordability, President Donald Trump announced a new policy: a 10% cap on credit card interest rates for one ...

Trump can’t cap credit card interest rates on his own: Under the Constitution, only Congress can regulate interest rates. High rates reflect risk—but defaults remain relatively low: Average credit ...

President Donald Trump’s recent proposal to cap credit card interest rates at 10% for one year aims to ease the burden on families facing high borrowing costs. The intent is straightforward and ...

President Trump's latest proposal concerns a cap on credit card interest rates, but I believe it is unfeasible. A 10% cap would eliminate U.S. cashback programs, restrict credit access for riskier ...

Trina Paul is a Breaking News and Personal Finance Writer at Investopedia, covering topics like retirement, consumer debt, and retail investing. She focuses on making complex financial topics ...

In a Truth Social post, President Trump stated that he would no longer let Americans be ripped off by credit card companies charging consumers 20% to 30%. While this sounds good on the surface, I ...

Bankers argue that the proposal is often framed as consumer‑friendly, but consumers could face reduced access to affordable credit. Some 47 percent of credit cardholders report having a credit card ...