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CC point game going to change with Trumps 10% plan?
Posted on 1/10/26 at 8:37 am
Posted on 1/10/26 at 8:37 am
It has to right? I’m not a huge points guy but I do put a couple $100k on my business card so it adds up.
11
Posted on 1/10/26 at 9:22 am to baldona
I will be surprised if CC companies voluntarily decide to do this and stop raking in boat loads of money.
Posted on 1/10/26 at 9:36 am to baldona
It won't change anything because he can't do that with an EO.
Posted on 1/10/26 at 9:50 am to baldona
Trump doesn’t have the ability to dictate CC rates. It will take congress.
I miss the old Republican Party before it picked up all the dumbass economic illiterate ideas of the far left.
I miss the old Republican Party before it picked up all the dumbass economic illiterate ideas of the far left.
This post was edited on 1/10/26 at 9:52 am
Posted on 1/10/26 at 10:06 am to baldona
Ill believe this happens when it happens. Seems ridiculous
Posted on 1/10/26 at 11:40 am to baldona
Yeah, this is a terrible idea. Something the new mayor of New York would peddle as it sounds good on the surface.
A lot of bad unintended consequences will happen
A lot of bad unintended consequences will happen
This post was edited on 1/10/26 at 11:41 am
Posted on 1/10/26 at 11:40 am to baldona
This is one of the dumbest ideas I’ve heard. If you cap rates at 10% the CC companies just won’t lend to low credit borrowers. They aren’t going to lose money on it. It’s a shortsighted thought. You can have a house you can’t afford but no furniture for you!
Posted on 1/10/26 at 11:50 am to baldona
It's really up to the issuing banks to decide as they are the ones who determine the risk to the borrower.
Chase, capital one etc.. would have to voluntarily lower the rates. Seems very unlikely unless Congress passes something.
If that were to happen I would see a dramatic decrease in the amount of credit issued as the risk would go up for banks.
What hilarious is that Trump just asked the courts to throw out the cap on late fees. Because he said it was illegal.
That one was much easier to do
Chase, capital one etc.. would have to voluntarily lower the rates. Seems very unlikely unless Congress passes something.
If that were to happen I would see a dramatic decrease in the amount of credit issued as the risk would go up for banks.
What hilarious is that Trump just asked the courts to throw out the cap on late fees. Because he said it was illegal.
That one was much easier to do
This post was edited on 1/10/26 at 3:52 pm
Posted on 1/10/26 at 2:22 pm to baldona
You bought that waterfront property in Arizona didn't you.
Posted on 1/10/26 at 2:53 pm to baldona
CC companies do not lose on points. The amount of money they rake in from interests is truly remarkable. There is a reason why people don't think of Visa and Mastercard as 2 of the biggest monopolies in our country.
Posted on 1/10/26 at 2:56 pm to baldona
I'm guessing points will be severely devalued when this happens and/or big signing bonuses will disappear
Posted on 1/10/26 at 3:53 pm to Roy Curado
quote:
CC companies do not lose on points
quote:
rake in from interests is truly remarkable
quote:
Visa and Mastercard
Visa and MasterCard take 0 dollars of interest.
Rewards programs and interest is done by the issuing Bank.
Visa and MasterCard just collect the fee for the exchange. They don't issue credit or manage rewards points etc
Posted on 1/12/26 at 8:33 am to baldona
You know how you are charged fees when using cards at stores etc. these fees have gone up. Alot of it pays for rewards.
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