Visa To Allow Contributions to ‘Trump Accounts’ With Cash-Back Earned From Credit Cards

President Trump shared yesterday, January 28, that Visa will create a new platform to facilitate contributions of cash-back earned from rewards credit cards to so-called “Trump Accounts.”

So, what exactly are Trump Accounts, and how does this affect some of the credit cards you may already have in your wallet? Let’s take a look at the details.

Trump Accounts, Explained

“Trump Accounts” isn’t the launch of a new banking system by the U.S. President. Instead, it’s the name chosen for a new type of savings account designed to give a leg up in saving for education, a home purchase, retirement, and more. These accounts are for children born from the start of 2025 through the end of 2028.

Trump Accounts were created as part of the “One Big Beautiful Bill Act” that was signed into law in 2025, and they are not affiliated with the president’s business ventures. They will be under the purview of the IRS. For children born within the timeframe above, parents can open a Trump Account and receive a $1,000 deposit from the U.S. Treasury Department.

From that point, annual contributions will be capped at $5,000 and can come from numerous sources, including parents, relatives, and the employers of a child’s caregivers. These funds will be invested in mutual funds and ETFs composed mostly of U.S. stocks. They will be inaccessible until the child turns 18, at which point funds can be withdrawn without penalty to fund specific endeavors, such as higher education or buying a home.

Where Visa Fits In

While Trump Accounts have been a known quantity for some time, the president’s announcement about Visa‘s role is new. The credit card payment network will allow those who have eligible cash-back-earning credit cards to contribute their rewards to Trump Accounts.

The idea behind this move is that it’s an easy way to consistently earn cash-back rewards from everyday spending and deposit them into these new deferred savings accounts for children. Note, however, that this is not a novel concept, as several credit card products on the market are designed for this exact purpose.

Still, gaining the ability to do this through Visa, which supports many different cash-back credit cards, is a positive development if you’re interested in setting up an account for your newborn.

Final Thoughts

Trump Accounts are here, and Visa will facilitate contributions to these new savings accounts for children via cash-back rewards earned from eligible rewards credit cards. It’s not necessarily a new concept, but having the ability to contribute to your child’s future in an easy way is a welcome development.