Trump Promised A 10% Interest Rate Cap On Credit Cards—What Happened To It?

Key Takeaways Trump's proposal to reduce credit card interest rates to 10% or less would be significant. The average APR for all credit card accounts was 21.39% in the third quarter of 2025, according to most recent data available from the Federal Reserve. However, there may not be much appetite for the bill in Congress. A bipartisan bill was introduced in the Senate early last year that would cap credit card interest rates at 10% for five years, but it remains stalled. Related Education A deadline to lower ...