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A comment on Bernie Sanders interest-rate cap could end credit-card rewards programs.

Re:Bernie Sanders interest-rate cap could end credit-card re... by xivzgrev on Saturday May 11, 2019 @12:23PM (#19886903)
More importantly it could end credit card access to subprime members. There already aren’t a lot of cards to build (or rebuild) your credit.

It is possible that issuers would respond by replacing with secured cards but consumers hate those and introduces a lot more friction into process.

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Re:Bernie Sanders interest-rate cap could end credit-card re... by HarryHirsch on Saturday May 11, 2019 @12:31PM (#19886963)
There already aren’t a lot of cards to build (or rebuild) your credit.

I never understood that. You'd think that creditworthiness means that you have a habit of paying your bills on time, and that your scheduled payments are in proportion to your income. Nothing more. But in America they insist that you have a credit card and have a history of paying that. It's a problem when you are a recent immigrant and seek to get a mortgage because you'd like to settle in a certain town. If the Sanders proposal does something about that craziness I'm all in favour.

[ Parent | on HN ]