Mark Carolin

Posts Tagged ‘Lifetime Thing’

The CARD ACT was passed by President Obama as of late, and what does it mean for you when it comes to rewards and your credit card? Do you think credit cards are going to get rid of cash back rewards completely? It all depends on who you talk to, but I wanted to let you know exactly what I thought of the ACT, and what you can expect from the credit market.

Back in the early 80s, we were in a very similar recession, where the banks were holding back on loans, and credit, but obviously, it was nothing like it was today. In fact, today is going to be probably be a once in a lifetime thing, and if you can weather out this storm, you can get by anything.
The free market

The thing I love about America is our free market, and you should most likely never see your rewards go away? Why is this you might ask? It’s because of the competition that is out there. If one card wants your business, they are going to offer 1% cash back, and what do you think the other companies are going to do? They are going to follow suit.

Today, there are still great reward cards out there. You can save on gas, groceries, and just about anything else. If you pay your card off in full each and every month, you can really take advantage of these credit companies. Don’t let the economy bother you, and don’t worry about the rewards, because I can’t see them going away!