Defend Credit Card Rewards Programs

As your constituent I am writing to urge you oppose the credit card competition act (s.1838) In this time of economic flux, this legislation would only help large merchants like Walmart and Target increase their already skyrocketing profits. No part of this bill would benefit consumers such as myself. Consumers and small business depend on credit card rewards and rely on them to keep competition fair between providers. If the market of rewards were suppressed or eliminated by s.1838, those creditors would have free rein to increase fees and interest rates without fear of losing customers to their completion. Rewards programs help keep these in check.