Posted on 04/23/2025 5:54:42 AM PDT by WhoisAlanGreenspan?
Millions of Americans love using their credit cards – the most secure, hassle-free, and worry-free way to pay. Credit cards alert customers to potential fraud, giving them financial safety and peace of mind. They also provide convenient payment options and rewards families use to pay for everyday goods like gas and groceries or trips to see friends and family, all supporting our nation’s economy.
The Durbin-Marshall Credit Card Bill would mandate your credit cards can run on alternative networks – not the trusted and stable networks you probably use today – and there is no guarantee the convenience, zero-liability fraud protection, and rewards programs you know will remain. Corporate mega-stores will make more money while you sacrifice your payment convenience, rewards, and peace of mind.
(Excerpt) Read more at guardyourcard.com ...
The country would be a better place if we all went to cash. Hopefully this accelerates the move.
This ad plays on Patriot radio station throughout the day for months...you know it’s bad when you see dick turbans name on it...somehow he or his pals will benefit bigly.
Interestingly the guardyourcard.com domain has been around since Sep 5, 2017. It could have been used for some other campaign though since then.
The Durbin-Marshall Credit Card Bill would mandate your credit cards can run on alternative networks...
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A monopoly is a monopoly.
Merchants have to pay a lot of heavy fees to accept credit card payments.
Competition and choice is a good thing.
For small retail things that works fine but its good to have a transaction record and proof of payment for some things like hotel bills, rental cars, etc.
You need to play the ominous, menacing music in the background for full effect.
I get 6% back on all grocery and drug store purchases with my AMX. 3% back on gasoline/diesel and 1% back on everything else. I get this back in CASH. No points or BS programs. When that cash amount gets over $50 I call and they credit it to my account. Over the course of the year it works out to HUNDREDS of dollars.
Credit cards should only be used IF you are going to pay them off EVERY month. Like I do.
My company does the same thing with all airline and other business purchases. They get back thousands of dollars each year.
So this would eliminate bills and receipts and a monthly summary of charges? How do you keep track of charges or know if you have been charged incorrectly?
More info.:
https://thepointsguy.com/news/credit-card-competition-act/ (”Anti” tone)
https://www.paymentsdive.com/news/durbin-marshall-senate-credit-card-competition-act-bill/740921/ (Neutral tone)
Haven’t heard of this until now.
A quick look makes it seem like this bill would open competition for charge processing services and thereby lower fees incurred by businesses.
The Credit Game is a crapfest and sh!tshow anyway, consumers getting ripped off and businesses paying another exorbitant “tax”. The Cards getting it from all sides, just raking in the dough from everybody.
They’ve all been based in Delaware, yeah? Hmmmm .....
Yes, we would all do better to pay by cash or check for any purchase we possibly can.
But ....
Big Finance is crying the most over this. They’d lose the easiest money ever made by man.
We are all such slaves and serfs to our masters.
Try this: Pay by check or cash for almost everything you buy in the next month. See if you can.
There is no need to support Durbin or MasterCard.
Thanks for starting the thread. I keep hearing the ad on Patriot radio and have been wondering what the facts were.
I get similar cash back and discounts from card companies and retailers. In reviewing credit card use I nearly forgot the most important part you mentioned. You’ve got to pay the statement balance every month! On time! Or else forget about using credit cards completely.
It wouldn’t. My response was strictly referring to another poster’s suggestion of going ‘to cash’ not the proposal in the original post.
In Europe they're pegged at around 35 cents. That's why you can charge a Coke if you want to, vs. a small merchant getting zapped $1.25 per charge here.
Government interference in a monopoly market is perfectly justified.
Comment...If something is functioning well, operating smoothly at a staggering scale, making life easier for hundreds of millions of Americans every year, Democrats will find a way to ruin it and smash it to bits.
Exhibit 1: Obamacare.
Thank you for clarifying.
Its a good reminder to me to always put the quote i’m responding to in italics above :)
Sounds Great!
"Honey, since we're leaving on our 3 week vacation tomorrow, I'm going down to the bank and take out $7000 for the trip."
And back in 2021 we spent a month traveling around in Europe. How much cash should I have brought with me? And in whose currency?
Up until a few years ago, my wife and fulltimed in our motorcoach RV. We would leave Houston in February and not come back until November.
How much cash should I have taken with me?
That 6% back is partially covered by the 3-4% Processing fees Charged by Amex to those who even process those cards, and that 4% always gets passed onto you, whether or not they admit it upfront or not.
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