I don't think that will happen for multiple reasons: 1. Australia and UK still have mile earning credit cards. In fact, in my experience, countries that cap the

I don't think that will happen for multiple reasons: 1. Australia and UK still have mile earning credit cards. In fact, in my experience, countries that cap the maximum amount of late fees and interests tend to have lower mile earning possibilities through credit cards than countries that cap the interchange fees. 2. Lobbies in the US are powerful and consumer protection in the US are traditionally less strong. 3. A move to reduce credit card rewards would likely be unpopular (it's very easy for lobbyist to spin any move to cap interchange fees as politicians taking away the rewards from credit cards) I believe that credit card rewards are a form of tax on people who mismanage their money to benefit the ones who are good at managing their expenses and money. It's subsidized by all people paying interest on their balance, paying late fees and the interchange fees. I was going to say that it's a tax on the poor to benefit the rich but I know people with high income that never seem to manage to pay their credit card balance in full and I believe it's really those people that generate revenue for the banks.