Trump proposes cap on credit card interest at 10% (for a year)

[Darlo kittu]

I'm wondering if there is some "interest fixing" going on.

Folks with high balances used to always be transferring balances from one CC company to another.

I don't hear about much of that going on anymore.

Balance transfers are still out there provided your credit core is acceptable

 

[citygator]

They used to lock away loan sharks that charged less interest. Now we have institutionalized loan sharking and you you are fine with it because, reasons.

Im just telling you what the business impact will be. It will be terrible for the economy. Whether that is an "ok" trade off is really up to the person. I dont think it is.

 

[Mr Natural]

Whatever happened to usury laws?

 

[Darlo kittu]

Im just telling you what the business impact will be. It will be terrible for the economy. Whether that is an "ok" trade off is really up to the person. I dont think it is.

So far the lefts economic forecasts have been as reliable as Brandon's mental ability

 

[citygator]

So far the lefts economic forecasts have been as reliable as Brandon's mental ability

What do you think would happen to credit availability if it was capped at 10%?

Ive already had meetings this morning with our corporate lawyers as it would impact our business customers. They say this means nothing. Congress would have to pass a law. President cant "proclaim" it.. using their words.

 

[Darlo kittu]

What do you think would happen to credit availability if it was capped at 10%?

Ive already had meetings this morning with our corporate lawyers as it would impact our business customers. They say this means nothing. Congress would have to pass a law. President cant "proclaim" it.. using their words.

Capitalism will adapt. Your corporate lawyers? What firm? Deewy. Cheatem, and Howe?

Still waiting for you to answer my previous question. Do you support these tax cuts or not?

 

[berg80]

Trump works for the American people

He's trying to improve R's chances in the midterms to keep Congress from doing its job by checking his power.

Trump proposed a one-year cap on interest rates starting Jan. 20. While it’s unclear exactly how that would be enforced, the industry’s message is clear: The plan would bring unintended consequences for consumers and the American economy.

The move would make large swaths of the credit card industry unprofitable, especially tied to customers with less-than-ideal credit profiles, according to banks and analysts. Rather than offer loss-making products to consumers, the industry would simply stop offering access to customers with subprime credit, along with a slew of other changes around card programs including scaling back rewards, insiders say.

Consumers would either spend less or rely on other forms of unsecured debt, many of which carry even higher interest rates than credit cards, they say.

“We cannot offer products at a loss; there’s no scenario where we would take our entire portfolio to 10%,” said a person with knowledge of the operations of a large bank, who asked to remain anonymous to speak candidly. “It’s not a stretch to suggest this will very quickly tank the economy.”

https://www.cnbc.com/2026/01/12/trump-credit-card-rate-cap-enforcement-path-risks.html

 

[Thinker101]

Yet another "look what I'm doing" move where nothing is being done.

Damn, has Jan 20 come and gone already....simp.

 

[1srelluc]

What do you think would happen to credit availability if it was capped at 10%?

Ive already had meetings this morning with our corporate lawyers as it would impact our business customers. They say this means nothing. Congress would have to pass a law. President cant "proclaim" it.. using their words.

You are perpetuating a lie of you own making.....Trump simply called for it.

I guess it's what used to be when a POTUS would "signal" about something he wanted done.

Trump is just more direct about it all. Let the CC companies figure out if they have a leg to stand on if congress decides to act or would they be better off to reel themselves in first.

It's called leadership.

 

[Darlo kittu]

You are perpetuating a lie of you own making.....Trump simply called for it.

I guess it's what used to be when a POTUS would "signal" about something he wanted done.

Trump is just more direct about it all. Let the CC companies figure out if they have a leg to stand on if congress decides to act or would they be better off to reel themselves in first.

It's called leadership.

Even when Trump calls for something Democrats wanted, the Stage 5 TDS sufferers get pissed

 

[citygator]

You are perpetuating a lie of you own making.....Trump simply called for it.

I guess it's what used to be when a POTUS would "signal" about something he wanted done.

Trump is just more direct about it all. Let the CC companies figure out if they have a leg to stand on if congress decides to act or would they be better off to reel themselves in first.

It's called leadership.

"I call on US Message Board Posters to lose weight" - Citygator 1/12/2026.

Leadership. I called for it. Posters would be better off if they reeled in themselves but damnit. I am making a difference. Just like Trump.

 

[Darlo kittu]

"I call on US Message Board Posters to lose weight" - Citygator 1/12/2026.

Leadership. I called for it. Posters would be better off if they reeled in themselves but damnit. I am making a difference. Just like Trump.

I call.on you to grow out of your adolescence

 

[1srelluc]

"I call on US Message Board Posters to lose weight" - Citygator 1/12/2026.

Leadership. I called for it. Posters would be better off if they reeled in themselves but damnit. I am making a difference. Just like Trump.

 

[citygator]

I call.on you to grow out of your adolescence

Your leadership on this issues is Trumpian. I suspect you will have the same influence on me as Trump has on Creditors. Observing leadership is awe-inspiring.

 

[Darlo kittu]

Has he always acted like they left the door to the mental ward open and unguarded?

 

[Darlo kittu]

Your leadership on this issues is Trumpian. I suspect you will have the same influence on me as Trump has on Creditors. Observing leadership is awe-inspiring.

Well nobody will ever look to you for an example

 

[Papageorgio]

This is a bad idea, just as dumb as price freezes.

Have we not learned by now that government interference in commerce never betters us, it weakens us, not even for a year. This move will create major complications. For a year major credit cards would cancel cards, suspend cards, will make tighter restrictions on who does and does not get a get.

I think Dems tried to pass a stupid bill like this a year or so ago.

I am not sure why Trump trots out these far left ideas.

 

[1srelluc]

Has he always acted like they left the door to the mental ward open and unguarded?

Well, he does have entertainment value at times.

 

[Arresmillao]

Im not sure how I think about this. It is clear that the average citizen needs a break but generally rates for good borrowers are offset by higher rates for higher risk borrowers. Coupled with potential tariff checks to citizens, he could secure the mid terms. He is certainly being creative

View attachment 1203673

trump is a convicted rapist, and a serial pedophile...

 

[citygator]

Well nobody will ever look to you for an example

They look to me everyday at my job. I get paid a ton of money to lead. So much so that Trump is getting me solid tax breaks this year of $30,000+. Praise Trump!