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September 8, 2025

Americans would save $100B if credit card rates were capped as Trump proposed, researchers say

  • As a candidate in 2024, Trump proposed a temporary 10% cap on credit card interest rates.
    • By KEN SWEET
    AP Business Writer

    NEW YORK — Americans would save roughly $100 billion a year in interest costs if President Donald Trump's campaign proposal to cap credit card interest rates at 10% were implemented, according to a paper published by Vanderbilt University on Thursday.

    Further, the banks and credit card companies would be able to withstand, and even still be profitable, if there were to be a national cap on interest rates. While limited in scope, the paper gives some academic backing to President Trump's campaign promise.


     
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