Bernie Sanders interest-rate cap could end credit-card rewards programs

Re:Bernie Sanders interest-rate cap could end credit-card re... by rando444 on Saturday May 11, 2019 @02:39PM (#19887664)

I live in a country where credit cards can't carry a balance. Everyone pays them off every month.

If you need a loan, you ask the bank.

In the absence of credit card interest rates, we pay yearly fees for cards depending on the rewards offered by each.

It's kind of the best of all worlds if you ask me.

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Re:Bernie Sanders interest-rate cap could end credit-card re... by sethgecko on Saturday May 11, 2019 @03:03PM (#19887812)

What if you don’t pay?

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Re:Bernie Sanders interest-rate cap could end credit-card re... by rando444 on Sunday May 12, 2019 @10:25AM (#19892081)

If you can't pay your bill in full, you work out a plan with your bank to pay your debt back over time.

Your credit card limit was already determined by your income, so the possibility for individuals to get themselves into financial trouble is rather low.

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Re:Bernie Sanders interest-rate cap could end credit-card re... by ddingus on Saturday May 11, 2019 @03:26PM (#19887949)

Seems simple. No credit, until you do.

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Re:Bernie Sanders interest-rate cap could end credit-card re... by sethgecko on Saturday May 11, 2019 @03:58PM (#19888074)

But then you carry a balance

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Re:Bernie Sanders interest-rate cap could end credit-card re... by ddingus on Saturday May 11, 2019 @04:00PM (#19888089)

Not when the law says differently.

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