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That is not true at all. Different cards offer different rates to different people. Shop around. This bill just forced the companies to move their revenue from
by krschultz 16y ago
That is not true at all. Different cards offer different rates to different people. Shop around. This bill just forced the companies to move their revenue from hidden charges to the interest rate.
That is very different from the government forcing every card to charge every person the same rate.
- CWuestefeld 16y agoI never claimed that it was forcing every card to charge every person the same rate. My claim (and that of the OP) is that it decreases the ability of the CC company to differentiate. They can still do so, but to a much lesser degree. So they can have different rates, but there will be fewer of them: it forces them to quantize, and put people with different circumstances into the same bucket.