President Barack Obama will weigh in today on the lending practices of US credit card companies, an issue that has triggered an outcry from consumers hit with high fees and interest rates.

Obama has joined a push by lawmakers to rein in credit card practices that his aides have labeled as "abusive" and plans to air some of his concerns at a White House meeting with 13 executives from top banks and companies that issue the cards.

White House aide Valerie Jarrett said Obama hopes to see "new rules of the road" for the credit card industry.