• meep_launcher@lemm.ee
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    8 months ago

    Would this push banks to increase interest rates? Mine is already 20% and I’ve been making my minimum payments.

    Idk, I just know banks are schisters who will always find a way to screw the poors.

    • sylver_dragon@lemmy.world
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      8 months ago

      Probably not. One of the few things people actually look at with credit cards is the interest rate. If one bank raises their rate, they risk losing customers to another bank which is willing to settle for making insane profits, rather than ludicrous ones. Fees like the overdraft ones being limited are a sneaky way to push those profits to plaid, because the suckers using those cards never stop to look at and shop those fees.