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New credit card law could dramatically change rewards points system, says The Points Guy

Кадры New credit card law could dramatically change rewards points system, says The Points Guy

Описание New credit card law could dramatically change rewards points system, says The Points Guy

Коментарии New credit card law could dramatically change rewards points system, says The Points Guy

Who let that guy speak Comment from : C- Dragon

Didn’t the senator who spoke about this die yesterday? Comment from : La Chica Meow

i have 2 credit cards and have never cared about the stupid points because unless you're rich and spends tons of money it doesn't amount to a hill of beans Comment from : KY LE

Retailers would be able to lower the prices if they save on the fees This bill is setting the stage for digital payments that won’t require cards It’s already as good as done Comment from : no name

The Points Guy has the most to lose from this legislation The rest of us will be fine And as usual, banks will be better than fine Comment from : Longie_long

I definitely get lured into spending more when I have a high reward credit card Completely illogical, but very real brbrSo retail businesses is gonna notice they saved 2-3 on fees, but consumers may spend slightly as there are slightly less incentives to spend Comment from : Grosvenorave

I will give up points for real cost savings Comment from : Iolando Spinola

Interchange does not pay for perks At the end of the day, merchants pay for these and merchants pass these costs to the consumer through higher pricesbrbrThis guy is such a liar Fraud protection is not going a way brbrThis helps MAIN STREET RETAILERSbrbr"A bipartisan set of sentors trying to ram this through" lol If it's bi partisaon that means that both sides agree on something for once This speaks volumes because GOP and DEMS never agree on anything and they agree on this Comment from : Joe Genshlea

Why does this senator still have a job? Could he not more clearly be for big businesses and not the people? Comment from : CC B

again anotherway the goverment is against Business and the collapse of credit card We will blame the party who pass this get ready !!! Comment from : Alexis Rodriguez

Brian Kelly is so dishonest in how he is presenting this info Comment from : Sean P

Low income card holders pay for the rewards by having much higher apr interest rate, lower capital to pay off balance, more likely to hold a balance They end up losing 700 more than they gain in "rewards" That's $1 in rewards to every $7 they have to pay in interest and fees Everyone has access to credit cards, few have the education and resources to use them to their advantage Comment from : Sean P

I guess i just wouldn't use a credit card if it isn't saf what's the point of a card if there's no rewardback to cash Comment from : Buff Production

Corruption knows no bounds Comment from : J

Really going to hurt those who use credit cards responsibly Comment from : Matthew Earlywine

Or one could not worry about points and not have a credit card at all That's one less bill that you have to deal with And when you make purchases your purchasing with intention from a planned budget with cash you actually feel better because there's no excess charges hanging over your head in the form of interest payments Comment from : uzoma nwosu

Durbin, democrats again By the way, durbin is not helpful at all when you contact durbin for passport issues Stop trying to say this imaginary "rich people " I'm not rich but I'm freaking affected by all these idiotic legislation from Biden and these idealistic Democrats Comment from : J S

What's to stop a retailer from not accepting the premium card and keeping the fee? Comment from : tubewacha

The real downsides of this bill vastly outweigh any speculatory benefits Comment from : An Individual

Why is he so focused on points(perks) and not the security aspect Thats why people are going to look at it like a rich people whining problem? Comment from : dec1slh

Good Credit card companies be damned Comment from : Mike Begley

Good, credit card rewards should end They go to disproportionately sophisticated and high-income individuals and are paid for by lower-income consumers (their debt) and small businesses (transaction fees)brbrOf course that won't make this guy that runs a credit card points website happy, but it's best for the rest of us Comment from : Isaac Liu

All I know is the current credit card system today is costing the average American a lot of money, the fraud in the current system is beyond reasonable We need a complete overhaul of the system, not sure what the best path is, but status quo is a total failure Comment from : Phil Haddad

This is an absolute biased segment They even miss represent the 3 as though it’s paid by the consumer, it’s paid by the retailer So not only is the retailer expected to pay a higher percentage, but he’s also supposed to pay for the perks of the credit card user? this segment does not consider whatsoever the little retail guy who has to pay out a big chunk of his income to the big credit card companies and processors This is what this bill is all about, and this segment totally ignores that Comment from : Baja Culturista

Bitcoin fixes this! Comment from : khelmick4

This guy is a bullshitter Consumers are paying the price for the profits of Visa, Mastercard, Amex etc It's a system in grid-lock due to clever engineering of incentive systems This change will benefit consumers Fraud protection doesn't have to cost 3 on every transaction, and if you as a consumer don't pay the 3 directly, it's the retailer paying for it (which means they have to charge it back to consumers in some way) Comment from : David Schaap

This clown is wrong Govt is right to take the monoply away so that businesses don't have to pay 35 on every transaction to the credit card companies with more competition maybe that transaction fee goes down to 15 that's savings of 20K a year for every business that does 1 million in sales Comment from : Greengrass

This extra cost is eaten by the retailer and other none credit card users in the form of higher prices So if you use cash or debit cards, you pay more for your food so “The Points Guy” can get his miles Comment from : iali00

This guy is a POS This is exactly rich people complaining about perks being taken away from their their perks Comment from : iali00

Talk about out of touch It's moronic to say losing points and rewards hurts low income people because the amount you have to spend is so high Gee, poor people don't get airline discounts??? Here's a flash, poor people aren't flying around, taking vacations Comment from : Water Bug

Utrust fixes this Comment from : Sean Neumann

click bait Fear uncertainty and doubt Yuck Comment from : Mark Satterfield

Sounds like "those who have access to credit cards" (eg, richer than other people) are going to lose out to help the overall consumer Comment from : Mark Satterfield

Is he saying that when I buy a $100 pair of shoes at a retail store the retail store is going to ask me if I want to pay an extra 3 or 1 depending on the network I use? Retailers have already loaded in the visa, mc and amex fees into the cost of the product Cash is rarely used anymore I understand that cc give perks based on their transaction fees (give back to the consumer) but this does not make sense Comment from : stepmback

This guy sounds like a lobbyist Comment from : stepmback

The only reason to actually use any cards is benefit not debt Comment from : Rocky Staatz

The credit card lobby is really strong, they try to make you fear losing points to be able to keep their duopoly Comment from : Miguel Breton

If no processing fee, how do Visa and Mastercard make money? Banks, retails, save a lot of money, consumers gain nothing Comment from : eddyimaNO

Points are fairly inconsequential The fraud protection is the only real value This change would obviously be devastating to this guy's business and that's his only reason for being on Comment from : Stephen

I do have Google ad's Comment from : Carrie Tomiye

Sounds like shills for the credit card companies Comment from : grande of Renzo

Leave it to the Democrats to screw up a good thing😮‍💨 Comment from : sodbuster

BidummynomicsI just luv it Comment from : J Dog

dude is ftard, the merchant isn’t going to “choose” to risk fraud and not get paid… Comment from : b mO

flexa ‘bout to run this Comment from : b mO

This just sounds like he’s a lobbyist paid for by the CC companies Comment from : Steve-O B

This guy is trying one scare tactic after another Fraud protection is paid for by the merchants, not the card company If it's fraud, the retailer has to accept a chargeback There is no cheap credit card network without fraud protection Card companies charge merchants 3-5 of the transaction amount Points are rarely worth more than 1 Further, low income consumers don't get cards with good points They get cards with fees Wealthy consumers get cards with great points because credit card companies want those consumers because they spend more and are lower risk But both pay more on their purchases because retailers have to price stuff assuming everyone is using a card with 5 fees This is an excellent bill All consumers should support it Comment from : Ashwin Kapur

I feel incredibly fortunate for having made wise financial choices that have had a life-altering impact As a single mother residing in Toronto, Canada, I successfully purchased my second home in September If everything continues to progress positively, my aspiration is to retire next year at the age of 50 Comment from : Hannah Jeffrey

Imagine you are making 1 profitbrAnd paying visa 4 every time that's USAbrbrDue to Visa MasterCard and Amex USA is losing digital money racebrHere in India even a small retailer with razor thin margin of 1 supports digital payments all because our own system charges zero to them Comment from : CCx

Ugh, can't stand this CC shill Comment from : nechadi

Points guy worried his gravy train could run out Comment from : Ben Eppard

He wrong This give the people a choice Which make it cheaper Competition Comment from : B The Don B

Competition has been wiped out by companies like Amazon being a Prime example Congress of course has been paid off to keep quiet Retail as a whole needs a big shakeup and Visa/Mastercard overly dominating is a part of that Comment from : Mark Norman

Seems like a lot of misinformation with zero push back Comment from : ni ko

Seems selfish, the interview guest (Brian Kelly and his business) stands to lose from this legislation, which is why they're opposing itbrbrIf this passes, the points guy will have less card points and card arbitrage content to write about >> less ads revenue and referral dollars from card issuers brbrUS lives on interchange island, most developed nations have capped interchange (and less extravagant card benefit schemes) Comment from :

People: IF there's no 3 credit card charge ----do you really think WalMart, McDonald's, Pepsi, Tj Maxx, Tiffany's, whatever isn't GONNA KEEP THE 3? They aren't gonna give the money back to us - no way Comment from : Carl Bonroy

This is the crack in the armor Block chain, and crypto will destroy the banks This the banks and the retailers paying off the politicians to screw us Comment from : Erik Owren

This guys business will go away Talk about a vested interest! Comment from : Zion

Would it be any surprise the points guy CEO would side with keeping the existing system? His job, company, website and world is on the line That’s a biased view he’s portraying hiding it behind “hurting the consumer” Comment from : Vincent

This guy clearly speaks for credit card companies! No mention of how much fees being paid by small business each month to cc companies on processing transactions Comment from : Bonacreation

Here's a pointer (get it) if you need points to vacation br you should not do it Comment from : Wicked Smoke Shop

Fraud protection should absolutely be required in all credit card transactions Comment from : Rick Row

Hurt? It would cut credit card usage A huge win for the average American household We got over 1,000,000,000,000 in credit card debt Take away that reward carrot It traps lower income and only helps upper middle class and the rich Comment from : Maverick Jones

The credit card transaction fees are opaque As a consumer you already don't have a choice of what the transaction fee is going to be It only helps the settlement network owners and big retailers who have negotiation potential and margin to support it brIt also reduces minimum spend requirements that are at small gas stations or microtransactions for apps/games Comment from : Haad Khan

Rather than let the merchant decide, perhaps they should pass a bill allowing the consumer to decide at the the point of sale and make the interchange fee added to the top line Comment from : Jason

Great for the merchant Bad for the Credit Card user So when I rent a car and use my CC to pay for it, I'm covered if I decline the insurance protection If this bill passes that would go away or at the least, create confusion as to which network the merchant chooses to use The merchant will always choose the network that benefits them which is the cheaper network Why even have two networks? Comment from : Vector Aerial Imaging

is it me or was this explained poorly? Comment from : Kevin Munz

So, who is working for the corporations? The left or the right? Comment from : W T

Incredibly shady for my elected officials to be doing this This is NOT what we elect them to do The fee a retailer pays is the cost of doing business and is reflected in the prices of the items for sale Now they want their cake and eat it too Wonder how much retailers are paying our senators to pass this bill It's an obvious bribe since there's zero reason to do this on behalf of the taxpayer Comment from : BJ Palla

this kinda sounds like a scare tactic from credit card companies Comment from : pax und peace

Instead of paying 3 on each transaction, put away the money in savings brWait this doesn't work because they charge it from retail businesses and they charge everyone higher prices brCredit card fees are insane brIn addition people pay a lot of interest on credit cards Comment from : pax und peace

This May be bad for the consumer but is sounds fantastic for small businesses as they can reduce the 3 charges as well Comment from : Ahmadou Diop

I don’t care if I lose my 2 cash back if my transactions cost 3 less Comment from : Cody Olson

This is such a poor interview Cnbc should've had some opposing viewpoint instead of just a guy who makes his living selling credit card referrals Comment from : Amar J

SOFI is the future The TSLA of banking Comment from : Frank Olivarez

What wasn’t said was all the fees the merchant pays to the networks and the banks to accept that debit or credit card It is the Banks who are making all the interchange as revenue and the merchant is trying to save some of those fee amount Comment from : RoseMarie Pollock

What about the 20 that they make you pay in interest to pay points Lol this guy is a joke Comment from : Jenn Blasquez

Visa and Mastercard better up their lobby/bribe funding asap Comment from : 1Oak

Some of the rewards cards have fees up to 5In my business I will either stop accepting credit cards or add a cc transaction fee to help cover some of these high fees This guy is all scare Comment from : amseam

I dont know, dudes I think crypto and all these ICOs are just a bubble Well, crypto is good for transfers and so on, but I dont engage in trading and staking either Its too risky My friend recently lost $5000 there I invest crypto in real business Comment from : RDSGAMING200

Just my opinion, but the world would be a better place without coupons, loyalty programs, pay per use premiums, and every point of sale "upsell" offer Comment from : Paul Christy

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This certainly sounds good too, but I think its still worth considering more reliable options like traditional businesses such as cannafarm ltd, for example Comment from : taiga

yes that point they are rolling out a digital currency so they will not want any competition Comment from : mr frisky

Cool video! Id like to add that there are other investment options in businesses like cannafarm ltd as well Comment from : Tekno Over

Thx for the info Its very useful Last time, I also came across cannafarm ltd, and financially, it has been very helpful for me So thank you again! Comment from : B Big boss

I honestly dont understand why youre discussing these dubious schemes There are plenty of options like Cannafarm Ltd and similar ones that are fast and profitable Comment from : Sanu Choudhary

Im glad i got into cryptocurrency when I did because it’s been a turning point for me financially, been my best decision so far Ive been making my personal research for a while now For me it turns out that the best way to earn on crypto is cannafarm l Comment from : Irwan losh

I don't understand the argument I think he's just mad he could lose his grift and his business Comment from : K K

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