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Multichromatic

(35 posts)

24. What's past is prologue

Sat Jan 10, 2026, 02:12 AM

Jan 10

My retail customers bragged in 1997 about having a 7.99 percent AMEX card and a 9.99 percent Visa card. They loved how the monthly payments were SO low because of the great interest rates they had.

I know some people getting low interest rates is different than everyone getting a capped 10 percent interest rate... but banks definitely won't go broke over this.

Also, California has a 10 percent cap on interest for personal loan. Though that rule seems to have lots of possible exemptions.

I'm not trying to pick on you... It just seems like nobody remembers credit card interest used to be MUCH lower in the past.

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wolfie001

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Highlight:

Trump calls for one year cap on credit card interest rates at 10% [View all] BumRushDaShow Jan 9 OP

Sign over the bar "free beer tomorrow" Klarkashton Jan 9 #1

He's just trying to increase the repuglican pac donations from the credit card carriers. It will never pass. mdbl Jan 9 #2

He been floating an answer to every gripe. Klarkashton Jan 9 #4

One of our local trolls is going to be very concerned about why "We Dems" didn't think of this first Prairie Gates Jan 9 #21

Republicans hated Joe Biden's student loan programs bucolic_frolic Jan 9 #3

if this actually takes effect moonshinegnomie Jan 9 #5

"considering"... Trump doesn't. Norrrm Jan 9 #7

Wrong! Multichromatic Jan 10 #23

I wonder how many millions will then lose their credit card accounts.... Mark.b2 Jan 9 #6

my guess is most of them moonshinegnomie Jan 9 #9

Good points.... Mark.b2 Jan 9 #12

What's past is prologue Multichromatic Jan 10 #24

What has happened since the Raygun '80s, was banking deregulation BumRushDaShow Jan 10 #25

the will just wholesalfe cancel credit cards moonshinegnomie Jan 10 #31

I don't know that a US President has the power to do that. 70sEraVet Jan 9 #8

that requires congress moonshinegnomie Jan 9 #10

I'm sure you're right about that. 70sEraVet Jan 9 #11

The little people can't take advantage of tax deductions. They are taking the standard deduction and getting money... Ol Janx Spirit Jan 9 #15

Before the mid-terms, Trump will promise us all a new car and a Trump phone. RedWhiteBlueIsRacist Jan 9 #13

Trump then called for a Chihuahua in every pot Bristlecone Jan 9 #14

This is what he does: he says it--expecting credit for it. And it is probably true more often than not... Ol Janx Spirit Jan 9 #16

These are useless things just meant to get some headlines JI7 Jan 9 #17

He spews a firehose of crazy every day tonekat Jan 9 #18

More smoke & mirrors - epstein,epstein,epstein Nigrum Cattus Jan 9 #19

The Age of BIG GOVERNMENT, I guess Prairie Gates Jan 9 #20

The credit card companies would have to agree to do that and they won't. SunSeeker Jan 10 #22

Credit Card Companies would have to cancel some people's cards................. Lovie777 Jan 10 #26

Credit limits will plummet wolfie001 Jan 10 #29

Sounds like he is in panic mode over the economy. Raven123 Jan 10 #27

More socialism by the fat orange imbecile wolfie001 Jan 10 #28

Hey while we're spouting populist pablum why not raise the minimum wage by ten percent for a year or until after the... Hugin Jan 10 #30

Desperado Don's Full-of-Shit Proclamations are oasis Jan 10 #32

Thanks for posting this. RoseTrellis Jan 10 #33

Alright, whose check didn't clear? Chase? Discover, this your fault? flvegan Jan 10 #34

This is a silly 1 year tiny bandaid proposal. delisen Jan 10 #35

I had to get a new CC because my airline card switched from Barclays to Citi. The switch will be automatic sometime Raftergirl Sunday #36

I never use a credit card any more, just a debit card when I need to order something online. CTyankee Sunday #37