As Trump’s policies continue to increase costs, Groundwork Collaborative and Protect Borrowers released a new Data for Progress poll showing strong, bipartisan support for efforts to cap credit card interest rates at 10 percent. After hearing common bank lobby talking points, nearly two-thirds of voters across party lines still favor a 10 percent interest rate cap, even if it would result in rewards programs being reduced or credit card eligibility being tightened.
The survey also revealed that credit cards are a critical lifeline for Americans struggling amidst the unprecedented affordability crisis and rising cost of living, finding that nearly half of respondents are not paying their full balance off each month—paying sky-high interest charges to credit card banks as a result. The survey looked at the spending habits of these voters, finding that large shares take on high-rate credit card debt to pay for household necessities like rent and utilities, as well as items hit by President Trump’s tariffs, like groceries. The numbers are even more pronounced among those who do not pay their balance off in full each month, nearly half of whom have used credit cards to pay off other debts.
Read the Poll: https://www.filesforprogress.org/datasets/2026/2/dfp_gwc_26_02_cc_tabs.pdf
Read the Press Release: New Poll: Nearly Two-Thirds of Americans Prioritize Lower Credit Card Interest Rates Over Perks and Easy Approval