>>>>>>>>We're subsidizing deadbeats in housing on the backs of the responsible, why should credit cards be any different?
>>>>>>>>
>>>>>>>>http://finance.yahoo.com/banking-budgeting/article/107096/Credit-Card-Industry-Aims-to-Profit-From-Sterling-Payers?sec=topStories&pos=7&asset=&ccode
>>>>>>>>
>>>>>>>>I sure am glad to see 95 senators get behind the concept of sucking up to deadbeat voters.
>>>>>>>
>>>>>>>Where else can you put your money and receive 1.5-3% back for the bank holding it for you (and hence using it) and yet be charged 21% for the same service when the bank loans you money.
>>>>>>>
>>>>>>>Ha ha ha!
>>>>>>>
>>>>>>>Looking at the Senate Bill, I don't see anything unreasonable:
>>>>>>>
>>>>>>>http://www.msnbc.msn.com/id/30846334/
>>>>>>>
>>>>>>>Before the arbitrary fees, service charges and rates were allowed, it was much normal for a credit card to only be issued to those with outstanding credit and for the rate to be 20%. Later over-charging those who were late with a payment allowed the banks to lower their rates for others. I don't see any problem with being charged a reasonable rate inside the 30days which is not done now. Basically, using your credit card to pay your bills and then paying those charges off at the end of the month, every month is using the bank's money for free. It technically allows you to play with your money for a month and spend the banks money.
>>>>>>
>>>>>>Are you willing to pay interest on all credit card purchases? Would you consider it 'an improvement' if you will start doing it?
>>>>>
>>>>>Willing? If I decided to purchase on a credit card and that was the policy, then I would have to be willing or choose not to. Credit cards are not mandatory for use. If a credit card is required to make a purchase, many banks provide debit/credit cards which allow you to make a purchase from the checking account as a credit.
>>>>
>>>>I see you didn't answer my second question. Let me re-phrase it: if you have a choice now to use your credit (in current form) or debit card, which one you use?
>>>
>>>Credit
>>
>>So you agree that switching from credit cards to debit ones, that could be triggered by this kind of legislation, should not be considered an 'improvement' or 'care about customers'?
>
>I don't see the leap you are making. No one is forcing anyone to switch from credit to debit card...

I don't make the leap. My point is related to the startup message of this thread. If I understand correctly, it interpreted currently proposed legislation as one forcing/encouraging credit card companies to increase fees on 'responsible payors' that may force/encourage them, in future, to consider using debit cards instead of credit ones. I think this logical line is clear enough and does not have interruptions, i.e. leaps.
Basically, the major line of this discussion, imho, is following: does this legislation help customers or not? What is your answer?