On the surface, a 10% cap on APRs could mean a big hit to credit-card companies’ earnings. But a Jefferies analyst thinks it’s “highly unlikely” that Trump gets his way.

President Trump calls for a one-year 10% credit card interest cap starting January 20, 2026.

“We will no longer let the American Public be ripped off by Credit Card Companies that are charging Interest Rates of 20 to 30%,” Trump wrote on his Truth Social platform.