It’s easy to see why many Americans would welcome former President Donald Trump’s proposal to cap credit card interest rates at less than half their current level — even if only temporarily.

A new study from Bankrate, which surveyed the interest rates of 108 store cards from leading retailers in early September, found they have reached a record high since Bankrate started tracking them in 2008.

The average retail credit card interest rate is now at a record high 30.45%, according to a new Bankrate study.

When you’re making a purchase at a store’s checkout counter, you may be invited to sign up for the retailer’s store card and promised an initial discount on what you’re buying, plus future perks.

Former President Donald Trump promised the country he would place a temporary cap on credit card interest rates if he returns to the White House. Speaking to New York supporters at a Long Island rally,

Donald Trump made headlines Wednesday night, promising a crowd in New York he would, if restored to the White House, put a “temporary cap on credit card interest rates … at around 10%,” if he were elected.