US EditionVisa Lets Cardholders Fund Trump Accounts with Rewards
Visa will let cardholders convert credit card rewards into contributions for Trump Accounts, which start with $1,000 government seed money and target children born 2025–2028.
- On Wednesday, Visa announced at a Washington, D.C., summit it will let cardholders deposit credit rewards into Trump Accounts, with CEO Ryan McInerney highlighting the new platform.
- The Trump Accounts are 530A tax-advantaged savings accounts seeded with $1,000 for children born between Jan. 1, 2025 and Dec. 31, 2028 and set to begin accepting contributions on July 4, 2026.
- Visa said it will build the capability with U.S. financial institution and bank partners to direct credit card rewards into Trump Accounts, while JPMorgan Chase, Bank of America, and Michael and Susan Dell pledged $1,000 matches and large donations.
- Facing online backlash, Visa said the post was viewed over 11 million times on X and defended the move as nonpolitical, aiming to boost financial inclusion and help families save.
- Critics note the accounts could magnify inequality, as the CEA projects balances of $303,800 by age 18 and $1,091,900 by age 28, with some scenarios higher, according to the Tax Law Center, NYU.
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40 Articles
Visa Announces Future Option to Use Credit Card Rewards to Fund Trump Accounts
Trump Accounts are tax-deferred investment accounts for children designed to jump-start financial security, according to members of the Trump administration at a Jan. 28 summit. Any child born between 2025 and 2028 can be gifted $1,000 in seed money from the federal government. Several corporations, including financial companies like Bank of America, JPMorgan Chase and Charles Schwab, have announced matching contributions for their employees. Bu…
Companies Pledge to Boost Newborns’ $1,000 Trump Accounts
Newborn babies could get an extra boost into their Trump Account from private companies. The federally funded pilot program, created by President Donald Trump, will donate $1,000 into savings accounts for eligible American babies born between Jan. 1, 2025, and Dec. 31, 2028. A number of private companies have pledged to sweeten the pot for kids across America. Here’s a look at how your child might be able to benefit. Contribution Match A long…
Steak ’n Shake joins growing list of businesses matching Trump accounts for employees’ newborns
Steak ’n Shake announced this week that it will match $1,000 in federal investment contributions for the newborn children of its employees, joining a growing number… The post Steak ’n Shake joins growing list of businesses matching Trump accounts for employees’ newborns appeared first on CatholicVote org.
Here's how much Trump Account balances could grow over time
The Trump administration is rolling out the new "Trump Accounts" that will aim to provide children with a jump start on savings and investment that could grow into a substantial nest egg by the time they reach adulthood.Trump accounts are tax-advantaged savings accounts that the administration created through the enactment of the One Big Beautiful Bill Act, which provided funding to seed $1,000 from the government into Trump accounts for childre…
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