Not credit card companies. He's signed thousands of things just like this, that protect regular people.

The interest needs to be cut. It is usury. Biden's bill that Bush jr signed is what put in place 30% and more interest.

incorporate in certain states that allow some high (max) interest rate (South Dakota being a biggy).

All these charges that prey on the poor need to go.

Usurial rates are awful, of course, but the alternative might be that the poor lose access to unsecured credit.

That might be a terrible thing in some sense, but it would definitely have a significant impact.

Silly me, I though 18+% interest was enough for them. The fees were abusive, to say the least.

Since then, I've used cash, checks, and an ATM card. I haven't missed a card company's hand in my pocket.

... and never carry a balance.

I use credit cards for almost every purchase. I treat them like debit cards (except the one I use for business travel). I do not buy anything I cannot pay cash for. I do not pay fees (other than annual fees on my premium travel card), and I never pay interest. I pay the balance in full before the closing date and due date every month (I actually pay weekly).

In return, I get substantial benefit from the card rewards. This approach ONLY makes sense if one is able to pay off the card every month and actually does so. Once one is paying interest, the justification evaporates.

I have bought those so seldom that the mild inconvenience of writing a check isn't that big a deal.

Health problems prevent me from having the kind of fun that requires more than the limit on my ATM. Plus, the ATM cards are appreciated by businesses, they cost the business less than credit cards do. I do have a card on my brokerage account, but that's for emergencies. I haven't activated it over the past 18 years.

When those junk fees came out, I saw the beginning of a massive scam, high junk fees encouraging people who'd overspent to pay the minimum month after month, interest continuing to accrue, keeping them in debt forever. I was right, too. A lot of people did run into trouble with those cards, especially since falling purchasing power meant they had to use them for essentials.

But even if you just use the "cash back" feature on cards, it can save real money. The average American spends over $900 a year on increased prices due to card swipe fees. You're paying that if you use credit cards or not. You may be paying less or more than that, of course, depending upon your personal spend. The point is that the cost of credit cards is built into the economy. Using a cash back card can cut that cost in half, or more.

But again, none of that matters if there are carried balances on the cards. For folks who are relying on credit cards for daily living, it's a very hard hole to climb out of. I do admire folks who KNOW they are not "credit card people" and avoid using them altogether. They are very dangerous if not used properly.

I neer expected to go 30 years without a credit card.