Thoughts on White House Threat to Credit Card Companies?

This topic has 2 replies, 2 voices, and was last updated 1 month ago by BigBalls.

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- January 11, 2026 at 7:36 pm #8326
  BigBalls
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  So Trump wants to force credit card companies to reduce their rates to 10%. What a blatant Democrat move. Government interference in the free markets is the democrats playbook. Now this is a RINO move. First of all, it’s a dead on arrival move. You don’t like credit card rates? Buy your shet with cash then. If this were to happen, you will see credit card companies freeze up credit.
  As someone who has managed credit card portfolios I can tell you that cost of money plus losses from non paying customers exceed 10%. Non bank lenders run around 8% loss rates. Banks who are much picker on who they grant credit cards to run around 4% loss. Thats before cost of money and overhead costs.
  Enough of government interference and bullshet regulations. You want to see the credit markets freeze up?
  
  https://www.theguardian.com/us-news/2026/jan/10/trump-credit-card-interest-rate-cap
  - This topic was modified 1 month, 3 weeks ago by BigBalls.
- January 28, 2026 at 1:22 am #9241
  
  TKSC2WN
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  Interesting take….
  - January 28, 2026 at 5:43 pm #9261
    
    BigBalls
    Participant
    
    Interesting times actually. Not sure what the real goal was of the announcement to reduce credit card rates but I can tell you it was never gonna happen. I’m thinking it was one of two things:
    
    1) public relations move to sway a certain demographic of voters that is getting hammered by inflation and higher consumer rates. Give the appearance of help.
    
    2) A shot across the bow to banks to get them to line up and financially support a certain politician
    
    Either way, not gonna happen and we don’t want it to happen.
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