New Delhi, Jan. 10 -- United States President Donald Trump on 10 January called for capping credit card interest rates at 10% for a year, effective from January 20, in a social media post. The same was also announced by The White House. However, the fine print and next steps remain unclear.

Amid this announcement, we take a look at how much an effective cap on credit card interest rates could save Americans. According to a 2025 study by Vanderbilt University on Capping Credit Card Rates, a massive $100 billion annually!

In a post on Truth Social, the US President called for a one-year cap on credit card interest rates of 10% from January 20, saying that his administration will no longer let the American Public be "ripped off" by credit ...