By the end of 2027, I'll predict these changes coming over credit cards:
1. Rate is established at 10-percent.
2. Immediately, the C/C companies put out a letter. Around one-third of all holders (mostly folks making $40k or less) are given their 'freedom'....no more credit. Just pay your debt situation and be finished.
3. From the remaining crowd....there's going to be a yearly fee (probably minimum of $100, on up to $1,000) to have 'status'.
4. From this crowd....half will be limited to a max of $8,000 of credit. The rest will have some formula....50-percent of your yearly income.
5. Some major congressional hearings about will occur....drawing negative attention over M/C and Visa. At a key hearing, the 'bosses' of the card empire announce that forty Senators/Congressmen....have over $80,000 in credit card debt....suggesting that they might announce the names of the individuals.
No comments:
Post a Comment