Jim Cramer included Capital One Financial Corporation on his weekly stock plan during a recent episode of his show. He talked about the company's situation following remarks from President Trump about placing a temporary limit on credit card interest rates.
"We also get results from a company we own for the Charitable Trust called Capital One Financial. You’ve probably seen their ads," Cramer said. "Capital One’s the giant credit card issuer that’s gotten hammered when the president suggested earlier this week a temporary cap on credit card interest rates. Remember, that was last weekend."
The host added, "I get where he’s coming from, okay, but if you cap those rates, most Americans simply won’t be able to qualify for a credit card. These companies would rather stop lending than just lend at a loss."
Capital One Financial Corporation offers banking and financial services such as credit cards, loans, and deposit accounts.