U.S. banks and financial institutions on Monday pushed back against President Donald ‌Trump's proposed cap on credit card interest rates, citing new data that showed it would result in millions of American households and small businesses losing access to credit.

President Trump on Friday night called on credit card companies to cap interest rates at 10 percent. “Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit

Even people who don't use credit cards pay more for everyday goods because merchants raise prices to cover card fees, said Klarna's CEO.

Average credit scores dropped in all 50 U.S. states between 2024 and 2025, pointing to growing financial strain for many households.

Finding a personal loan can be more difficult if you have poor credit.

JPMorgan Chase's chief financial officer outlined the impact of a rate cut on its credit card business on Tuesday, warning that such a move could have detrimental effects on the bank's lending business.

Discover how credit scores and credit reports differ, why each is important, and how they impact your financial life.