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Merchants To Give Cash Discounts, Set Credit Card Minimums

Wednesday, June 23, 2010 - 6:44 PM
In his show notes, the consumer advocate Clark Howard sees cash discounts and credit card minimums as good outcomes from the financial reform bill that's expected to pass next week. However, both will hurt us savers who use cash back credit cards and high-yield reward checking accounts. He predicts merchants will set a $10 minimum purchase requirement for credit cards. That will make meeting debit card usage requirements more difficult especially if you have multiple reward checking accounts.
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Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,713
1. Thursday, June 24, 2010 - 8:19 PM
I read on fatwallet today that someone already received a letter from a CU stating that debit card transactions have to total $200 per month in order to receive high interest (4%).
2
mariafaltermariafalter57 posts since
Jun 6, 2010
Rep Points: 222
2. Friday, June 25, 2010 - 7:56 AM
Thanks for the info about that CU. I posted about it in this new thread.
1
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,713
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