West of Mpls MN about 50 miles on Hwy 12 | Credit card user fees are nothing more than prepaid interest.
More retailers/merchants will be posting signs stating all credit card user fees will be paid by customers.
People that pay their entire credit card balance due every month will see a interest increase to subsidize the people who carry a credit card balance.
People who carry a balance will not realize much if any cut in interest rates because they will be paying higher fees as well.
I'm not surprised that the self proclaimed "king of debt" (who probably has at least a dozen cards maxxed out) came up with this idea.
|
Credit card interest rates cut
