US Politics
A Trump credit card? Top advisor suggests new method to pay instead of industrywide cap
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Donald Trump’s top economic advisor has floated the idea of a new “Trump card” that would avoid the need for an industry-wide credit cap, in what appears to be the latest attempt to cash in on the presidency.
“Our expectation is that it won’t necessarily require legislation because there will be really great new Trump cards presented for folks that are voluntarily provided by the banks,” Kevin Hassett, director of the National Economic Council, said Friday.
Last week, Trump called on credit card companies to cap interest rates at 10 percent, claiming that Americans were being “ripped off.” Hassett told Fox News’s “Mornings with Maria” that the administration had been in contact with banks already about the new “Trump cards.”
“We’ve been in conversations with the big banks, with CEOs of many of the big banks who think that the president is on to something, that he’s got a great idea,” he said, without offering further detail.
Trump credit cards are the latest in a long list of presidential merchandise endeavors, which include phones, watches, sneakers, guitars and bibles, among other things – though some have not been the success he may have hoped for.
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The $500 golden T1 cell phone that Trump’s family business promised to release last year is still not available. The device was hailed as one that would be “proudly designed and built in the United States for customers who expect the best.”
But both the T1’s shipping date and U.S. manufacturing ambitions gradually began to shift, even as Trump Mobile continues to accept $100 deposits for the device.
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Elsewhere, some among the MAGA faithful were ticked off with his watch company after a number of buyers complained of delivery issues.
Back in October, reviews of the presidential timepieces sat at an average of 2.7 stars out of 5, according to TrustPilot, with many customers leaving Trump-like reviews blasting the operation as a “scam.”
Styles include “Fight Fight Fight Malachite,” the “Mugshot Suit Collectible,” and the “First Lady Mini” in “hot pink,” according to the official website, with prices ranging from $499 to $799, and even higher for custom-made designs.
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Trump also launched the “limited edition” American Eagle-branded electric and acoustic guitars in November 2024, retailing from $1,500 to as much as $10,500, as well as unveiling his “Never Surrender” high-top shoes for $399.
A financial disclosure report from the Office of Government Ethics released last June revealed that the president had made over $10 million selling branded merch.
According to the report, “Trump Watches” generated $2.8 million, “Save America” coffee table books earned $3 million, and Trump’s sneakers and fragrances combined for a total of $2.5 million in profit.
Sales of Trump’s Greenwood Bible made $1,306,035 and “45” guitars made $1,055,100.