Have you heard about The Credit Card Competition Act?
- Currently: Card issuers use robust payment networks to process card charges, and charge the merchant a fee to fund card benefits and secure their network.
- Proposal: If passed, the act could move that payment to a cheaper, less secure network, reducing card issuers’ abilities to fund rewards programs.
- Future: Without funds, credit card points and miles could disappear overnight.
Good news: Citizens can contact their representative to protect their points.
This message is brought to you by The Points Guy.