Trump’s Proposed Change to Credit Cards—and How It Could Impact You

President Donald Trump’s proposal for a one-year cap on credit card interest rates at 10% is being met with caution by economic experts and the financial markets.

Blaming the Biden Administration for the steep interest rates charged by some credit card companies, Trump vowed not to let “the American public be ripped off” any longer. Setting a short deadline, the President—who had previously floated a 10% cap—said the change will come into effect on Jan. 20, a date that holds significance...