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Credit Card Industry Aims to Profit From Sterling Payers

"Now Congress is moving to limit the penalties on riskier borrowers, who have become a prime source of billions of dollars in fee revenue for the industry. And to make up for lost income, the card companies are going after those people with sterling credit"

Basically....The credit card companies want to start charging interest from the day of purchase without a grace period effecting approximately 50 million people who pay off their credit cards in full each month.

http://finance.yahoo.com/banking-budgeting/article/107096/Cr...



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Thanks for the update

When this becomes their policy, I will get rid of my credit cards.

SteveMT's picture

We are the last ones to screw over because we are the ....

only ones left.
Thanks for heads up.
When this comes down the pipe, I use cash, debit cards, and guns.