Trump proposes PRICE CONTROLS now w/cap for credit cards

[martybegan]

If I go to a motel and pay with a credit card, I can pay that off before I am charged interest.

That's what more than half of credit card holders do.

The credit card companies lend money for free to more than half their customers.

If I pay within the month, they have no interest cost of their own to worry about, and they still get paid for the transaction.

 

[g5000]

That's what debit cards are for.

I would be careful with your debit card.

If someone makes a fraudulent transaction with your credit card number, the credit card company eats it and you pay nothing.

Another reason they charge high interest. The eat billions and billions of fraudulent debt every year.

If someone steals your debt card number and uses it to buy something. YOU eat the cost. Your bank does not. You're shit out of luck in most cases.

 

[Oddball]

If I pay within the month, they have no interest cost of their own to worry about, and they still get paid for the transaction.

And you get the points.

 

[martybegan]

I would be careful with your debit card.

If someone makes a fraudulent transaction with your credit card number, the credit card company eats it and you pay nothing.

Another reason they charge high interest. The eat billions and billions of fraudulent debt every year.

If someone steals your debt card number and uses it to buy something. YOU eat the cost. Your bank does not. You're shit out of luck in most cases.

Not true. As long as you report the fraud it's the same as with a credit card. The key is to keep an eye on your transactions at least once per week.

 

[g5000]

Why credit card fraud alerts are rising, and how worried you should be about them​

​

Global card losses attributed to fraud reached $33 billion in 2022, according to payments industry research company Nilson Report, with the U.S. market representing roughly 40% of losses. It has forecast a persistent threat that could reach nearly $400 billion in card fraud in the decade to 2032.



So there's another reason why credit card prices are so high.

 

[22lcidw]

That's what debit cards are for.

True. The globalists want to go to a cashless society. All will have digital cards. It is easier to hide inflation on a good percentage of people that way along knowing what we are doing. And of course, they will institute a fee for using the card. They do it now in many transactions although not in all and currently you can avoid some fees by playing their game. And they control the game.

 

[martybegan]

True. The globalists want to go to a cashless society. All will have digital cards. It is easier to hide inflation on a good percentage of people that way along knowing what we are doing. And of course, they will institute a fee for using the card. They do it now in many transactions although not in all and currently you can avoid some fees by playing their game. And they control the game.

I'm not a fan of cashless society, but I see what you mean. Baseball parks, cashless, some bars, cashless.

Not a fan.

 

[g5000]

Not true. As long as you report the fraud it's the same as with a credit card.

Not in every case. Credit cards are safer..

The key is to keep an eye on your transactions at least once per week.

Absolutely. I check mine nearly every day.

 

[g5000]

True. The globalists want to go to a cashless society. All will have digital cards. It is easier to hide inflation on a good percentage of people that way along knowing what we are doing. And of course, they will institute a fee for using the card. They do it now in many transactions although not in all and currently you can avoid some fees by playing their game. And they control the game.

I almost never use cash. It's much easier.

And I have no idea what you mean that it hides inflation.

Horseshit.

As for fees, that is charged to the seller, not the customer.

 

[struth]

Yes we most certainly are.

An interest rate is the price of borrowing money.

We are talking usury law.

 

[martybegan]

Not in every case. Credit cards are safer..


Absolutely. I check mine nearly every day.

Which is why I use credit for hotels, travel and other larger items.

Debit is for gas, restaurants, and shopping, as well as repeated charges like Spotify and utilities.

Cash is for bars, 7-eleven and bars. Did I mention bars?

The only check I still write is my Rent check.

 

[john doe 101]

when you get your stories straight get back to me,, right now youre not making sense,,

My story is straight.

 

[progressive hunter]

My story is straight.

only in your own mind,,

 

[john doe 101]

only in your own mind,,

You are the one asking why people borrowing more is a bad thing.

 

[progressive hunter]

You are the one asking why people borrowing more is a bad thing.

did I??

or did I point out the obvious??

 

[22lcidw]

I almost never use cash. It's much easier.

And I have no idea what you mean that it hides inflation.

Horseshit.

As for fees, that is charged to the seller, not the customer.

There is some proof that people who use cars complain less than people who use cash when purchasing a product. Not with all. There are a lot of people who do not count their pennies. Also, to many people on loans who rip people off. Even lie to them.

 

[Couchpotato]

Clear as day. The dude is just rambling but in his ramble Trump basically proposes what Harris was accused of proposing. She didn’t.

She opposes price gouging in emergencies and illegal collusion on pricing.

Capping credit card interest @ 10% is straight up price control. Would bankrupt companies too.

Sure, Donald, let’s cap interest rates - Kevin Drum

Sigh. It just doesn't matter what he says, does it? Most likely nobody will bother reporting this. Banks won't bother protesting it. Wonky bloggers like me won't bother explaining why Trump can't do it. Conservatives will mostly ignore the fact that this really is socialism, far worse than Kamala Harris's trivial price gouging proposal. In fact, just the opposite: His enablers will suddenly produce a spate of explanations for why it's a brilliant, far-reaching, and conservative proposal.

Stuff like this is a product of intersectionality: Trump is both mentally declining and willing to say any weird thing that pops into his fevered brain. Everyone knows it, so nobody takes anything he says seriously. He's treated like a five-year-old running for president.

hate to burst your hate bubble but there are already laws on the books which set credit interest limits...

What are Usury Laws and Maximum Interest Rates? | Bankrate

Usury laws control how much you're able to be charged in interest on a loan, but there are plenty of exceptions, especially when it comes to credit cards.

www.bankrate.com

But you hate on.....

 

[citygator]

I almost never use cash. It's much easier.

And I have no idea what you mean that it hides inflation.

Horseshit.

As for fees, that is charged to the seller, not the customer.

I pay everything with credit for points on Marriott or American Airlines. I carry no balance though.

 

[citygator]

hate to burst your hate bubble but there are already laws on the books which set credit interest limits...

What are Usury Laws and Maximum Interest Rates? | Bankrate

Usury laws control how much you're able to be charged in interest on a loan, but there are plenty of exceptions, especially when it comes to credit cards.

www.bankrate.com

But you hate on.....

See my last post. Credit cards are generally excluded or have super high rates well over loan rates.

 

[martybegan]

See my last post. Credit cards are generally excluded or have super high rates well over loan rates.

Because credit cards are unsecured debt.