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Message
re: Capping credit card rates is going to have unintended consequences
Posted on 1/15/26 at 7:48 am to David_DJS
Posted on 1/15/26 at 7:48 am to David_DJS
quote:
I think the more likely consequences will be - credit card companies will figure out ways to exact dollars from users who pay pay their cards of monthly/never carry a balance.
They’ve increased their fees even before this. They were already making extra off every single transaction.
It costs a lot of money to swipe plastic.
0
Posted on 1/15/26 at 8:43 am to LSUTANGERINE
quote:
It won’t happen. Trump is just talking again.
Bull crap
Trump is serious. He even went to far as to call Eliz Warren about it knowing that she had been working on this for years!
And even if he isn’t serious, just saying something like this plays into the hands of the liberals. They’ll bring it up over and over to beat it over the heads of corporate America and republicans.
“Trump wanted this!”
It’s dumbass crap
Posted on 1/15/26 at 10:00 am to Henry Jones Jr
quote:
They will learn a lot quicker how to budget without a credit card there to buy them what they want.
No they won't. They'll find other sources of credit, probably with even higher interest rates than the cards they are using now, and will fall even further into debt.
Posted on 1/15/26 at 10:01 am to David_DJS
quote:
I think the more likely consequences will be - credit card companies will figure out ways to exact dollars from users who pay pay their cards of monthly/never carry a balance. In other words, the responsible consumer will end up paying more for the use of their credit cards and the cost of irresponsibility will go down for those that currently provide the margin for credit card companies.
Exactly. As usual, responsible people will get the shaft.
They'll either charge us or the vendors higher fees. And the vendors will pass along their higher fees to us.
Posted on 1/15/26 at 10:03 am to AllbyMyRelf
quote:
I have never paid any interest on a credit card. This will result in less credit availability for riskier borrowers, but likely won’t affect me or people like me at all
The credit cards companies will have to find more creative ways to make a profit. They'll end up charging additional fees to people like you and I either directly or indirectly.
Posted on 1/15/26 at 10:17 am to SlidellCajun
quote:And some of y'all say Massie is "basically a democrat!"
Trump is serious. He even went to far as to call Eliz Warren about it knowing that she had been working on this for years!
quote:As tthe great American philosopher Rush Limbaugh used to say "Never affirm your opponent's false premise". Stuff like this makes on wonder if Trump is really their opponent or not.
And even if he isn’t serious, just saying something like this plays into the hands of the liberals. They’ll bring it up over and over to beat it over the heads of corporate America and republicans.
“Trump wanted this!”
This post was edited on 1/15/26 at 10:18 am
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