Former U.S. President Donald Trump has publicly called for a one-year cap on credit card interest rates at 10%, a proposal he intends to implement starting January 20, 2026. This announcement was made via a post on his social media platform, Truth Social, where he stated that his administration would no longer allow the American public to be 'ripped off' by credit card companies currently charging rates of 20% to 30% or even higher. The proposed effective date, January 20, 2026, also coincides with what Trump described as the one-year anniversary of his 'historic and very successful' administration. Credible news organizations including Reuters, Mint, The Economic Times, The Straits Times, and The Times of India have widely corroborated this story. While Trump framed this as an affordability initiative to ease financial burdens on American consumers, many analysts and lawmakers highlight that a nationwide cap on credit card interest rates would typically require an act of Congress to become law, rather than being imposed unilaterally by the president. Similar legislative efforts have been introduced in Congress by both Democratic and Republican lawmakers in the past, reflecting bipartisan concern over high interest rates, but these proposals have yet to be enacted. The call for this cap is a continuation of Trump's focus on consumer protection and affordability, a theme he also emphasized during his 2024 presidential campaign.