Comments on: Government Overreach: Should The Government Cap Credit Card Interest Rates?

By: Rocky Staatz

Rocky Staatz — Thu, 21 Sep 2023 04:04:39 +0000

History jailed individuals making loans but credit cards are accepted and worse for usurase rates

By: Life is Good

Life is Good — Thu, 21 Sep 2023 01:35:21 +0000

In reply to Dave McCune. “The Best government is that which governs least” there you go buddy

By: Kris Whitaker

Kris Whitaker — Thu, 21 Sep 2023 01:07:23 +0000

Interest rates on credit cards (and all other loans too) are based on risk of the borrower. If a cap is implemented then people with less than great credit will not be able to get a credit card. Banks will just refuse to lend to those folks. Also, people with great credit won’t care what the interest rate is because they don’t ever pay interest. They use the credit card system in a way that banks don’t like and pay off balances before interest is assessed.

By: PC

PC — Thu, 21 Sep 2023 00:02:32 +0000

So now when this passes and is implemented, the people with better credit will have to pay a higher rate to subsidize those with lesser credit because the credit card company is going to get their money… One way or another and this is yet another example of a “Middle class tax” while not taxing the middle class.

By: Jeremy Norris

Jeremy Norris — Wed, 20 Sep 2023 23:43:50 +0000

Government, specifically State Governments, already have laws that cap the rates that credit cards can charge. 18% is just arguing about where the line should be drawn.

By: Dave Schmarder

Dave Schmarder — Wed, 20 Sep 2023 23:36:55 +0000

My guess is if there were limits placed on CC rates, people who had lower credit ratings would be denied credit. BTW, Josh is a Republican.

By: Dave McCune

Dave McCune — Wed, 20 Sep 2023 23:35:56 +0000

“That government is best which governs least.”

By: Bruce Smith

Bruce Smith — Wed, 20 Sep 2023 23:04:41 +0000

You can’t have competition in any market when the Government trys to control it. Thanks Dustin.