A Trump Credit Card? Top Advisor Suggests New Method to Pay Instead of Industrywide Cap
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. Kevin Hassett, director of the National Economic Council, said Friday that the new “Trump cards” would be voluntarily provided by banks, potentially eliminating the need for legislation. This comes after 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.” He said, "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."
This is not the first time Trump has attempted to capitalize on his presidency. The president has launched a long list of presidential merchandise endeavors, including phones, watches, sneakers, guitars, and bibles, among other things. However, some of these ventures have not been the success he may have hoped for. For example, the $500 golden T1 cell phone that Trump's family business promised to release last year is still not available.
The Trump watch company has also faced delivery issues and negative reviews. According to TrustPilot, reviews of the presidential timepieces sat at an average of 2.7 stars out of 5, with many customers leaving Trump-like reviews blasting the operation as a “scam.”
Despite these setbacks, Trump continues to launch new products. In November 2024, he launched the “limited edition” American Eagle-branded electric and acoustic guitars, 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 revealed that the president had made over $10 million selling branded merchandise.
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.
