17 of 25
A year ago
Thu Jul 27, 2023 4:07 pm
Slabenstein
OutlierDinosaurs are patriots
Slabenstein has passed the 24 month threshold and is completely inquiry free!
Slabenstein has achieved the Garden Goal !!
Slabenstein has achieved the Garden Goal !!
Personally, I'd happily trade higher rewards for lower interchange fees, since it's more equitable. (From my understanding, this is basically how it is in Europe, where the fees networks can charge are capped much lower than here.) But I don't think that would be the result of this bill, if it passes. Just like with what happened when similar legislation was enacted for debit cards, probably most merchants would keep charging the same for their goods and pocket the difference, rather than passing the savings on to consumers. Really, this is just a fight between merchants and networks for who gets this slice of the profit from transactions. You can see it in the lobbying and campaigning behind the bill, which has basically just been a tug-of-war between merchants on the one side and networks and issuers on the other, both claiming they're championing what's best for the consumer.
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- Tagline Dinosaurs are patriots
- Score data EX8 817, TU8 834, EQ8 834
- Classic 8 Scorecard CLEAN/THICK/MATURE/NO-NEW-REVOLVER
- Mortgage Scorecard CLEAN/THICK/MATURE/NO-NEW-ACCOUNT
- AoOA 20 yrs
- AoORA 20 yrs
- Date of Last Inquiry and/or New Account Opening September 1st, 2022
- Garden Goal 24