What if you could use credit card rewards to make an investment in your children’s future?
That’s what Visa CEO Ryan McInerney says his company is planning to do.
In a video address to a summit on “Trump accounts” in Washington, DC, on Wednesday, McInerney said that the company wants to “help families save for their children’s future through everyday spending.”
A Visa spokesperson said the company will be “working with our US financial institution partners to enable a new capability that will offer cardholders the option to direct credit card rewards into Trump Accounts.”
“It’s a simple way for families to turn rewards earned on everyday purchases into savings for their children’s futures,” the spokesperson said.
President Donald Trump mentioned the plan during his address to the summit, calling it a “big deal.”
Further details, including when the program will launch and which cards will qualify, are unavailable as of now.
“Through this new program, we are playing a part in this important effort to connect more people to the global economy, unlocking another channel for families to support their children, and ensuring the next generation has a stake in our country’s future prosperity,” McInerney said.
Earlier on Wednesday, JPMorgan and Bank of America joined the list of companies that plan to match the federal government’s $1,000 contribution to their employees’ Trump accounts.
The investment accounts, which were created as part of the “Big Beautiful Bill,” are scheduled to launch on July 4 and will be made available to American citizens under the age of 18.
Children born between January 1, 2025, and December 31, 2028 will receive a $1,000 contribution from the federal government.
Some proponents see the accounts as a way to invest the next generation in capitalism as some Americans turn against the longstanding economic system.
