Petition · HM Treasury
Institute a maximum cap for the interest rate on credit cards and personal loans
Closed
62 signatures
What the petition asks
An interest rate cap should be introduced to ensure that people - especially young people at the start of a career - are not trapped in debt and can afford to thrive, not just survive.
We believe that in modern society, it is all but mandatory for people to use a credit card in order to build a credit rating. We also think that the UK has one of the highest interest rates in the world for loans and credit cards, with representative rates ranging from 35 to 50% depending on the provider.
We believe that research shows that even small debt has severe mental and physical health effects.
President elect Trump has also suggested a 10% cap on credit card interest rates.
We believe that research shows that even small debt has severe mental and physical health effects.
President elect Trump has also suggested a 10% cap on credit card interest rates.
Timeline
| 23 Dec 2024 | Petition opened for signatures |
| 23 Jun 2025 | Closed to new signatures |
Key facts
Signatures
62
Status
Closed
Department
HM Treasury
Opened
23 Dec 2024
Closed
23 Jun 2025
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Source: the official petition page. Last checked 17 Aug 2026.