Trump wants to limit credit card interest rate to 10%. Is that like a price control?

And it would kill the points and miles hobby, which frankly, is my life.

Or Boilerman, is it like free shit?

First of all, Trump is full of shit when he says he can do this. It would take, at the minimum, a change in federal finance law--and the President doesn't make laws. It's not something he could do by executive order.

 

But all that aside, if such a limitation was ever imposed, the credit card companies would just jack up their fees to compensate. They also might impose more stringent qualification criteria. No one would benefit, ultimately.

Most of the big card issuers would go broke and then all the major airlines would. 

Edited on Sep 19, 2024 4:36pm

Damn socialist!

Originally posted by: Dealer1

Damn socialist!


Mark Cuban disagrees with you slightly... 

 

"The Republican Nominee has gone full Communist and proposed price controls on credit card rates."

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