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Is Congress Going to Kill Credit Card Rewards?
(www.nerdwallet.com)
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Exactly this. I'm pretty sure the CC companies themselves are behind this legislation. "We wanted to give you perks for using our card, but it's illegal now. Oh BTW, completely unrelated, your interest rate and annual fees will remain the same. If you don't like it, then just pay everything off before the annual fee hits again next month. Ta-ta!"