Just curious what people’s takes on it are?
I don’t think it will result in any savings for consumers. That 2-3% will drop into the merchants’ pockets. Durbin is retiring. Does he think this is for his legacy? I expect Costco will raise hell about it. I am prejudiced, however, because we get $700-$1K most years in rewards from our assorted cards.
I got over $2000 from our cards last year.
Yes this would cut that substantially