FlyerTalk Forums - View Single Post - Future Impact of Credit Card Interchange Regulation on Rewards?
Old May 14, 2019 | 1:54 pm
  #19  
tmiw
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Originally Posted by comptalk
I just think they'd restrict it to only excellent credit risks and prob. cap the credit rates. This is what they used to do in the 80's and 90's when it was pretty hard to get a credit card from American Express or unsecured. Having a credit card back then seemed like a privilege, now the gov't wants to make it a right. Go figure. Anytime the gov't gets involved in anything, they make it more complicated and it hurts more people than help. One could say they will actually hurt the economy as people would then not have the ability to spend more to buy necessities. I never thought a credit or charge card was a right, but I guess Comrade Sanders and Comrade Cortez see it differently.
From a societal standpoint, there are benefits to reducing reliance on credit. That is definitely something for a different thread though.
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