FlyerTalk Forums - View Single Post - The end of the "Free Ride" for credit card holders with good credit?
Old May 19, 09, 8:19 am
Join Date: Jun 2008
Location: MSP
Programs: DL PM
Posts: 768
This is just posturing by the banks in an effort to rally support in defeating the current proposals in congress. Charging interst from the date of purchase would be insane, as anyone who manages their money responsibly would simply retire any card that implemented such a change. The banks would be walking away from billions in merchant fees.
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