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Me right now as Senators Durbin and Marshall try to eliminate credit card rewards. 
Senators Durbin and Marshall have cosponsored legislation that they’re tacking on to a bill that has nothing to do with credit cards.
Named the "Credit Card Competition Act," this legislation will only benefit big-box stores like Walmart and Target, and it will line their pockets with billions at your expense.
It’s purposely confusing, but we'll break it down. Basically, it forces retailers to use other networks to run your transaction on, and it will affect almost all credit cards.
For example, when making a purchase with a rewards credit card, you earn a certain amount of points per $ when it runs on the issuer's approved network. But if this new law passes, that retailer could run your transaction on different networks.
Your issuer probably won’t have an agreement with them, and you won’t earn points.
You might be thinking, “Well, this will bring prices down for everyone!” Nope.
Senator Durbin did this exact same thing with debit rewards a decade ago.
Overnight, debit card rewards were eliminated. You can no longer earn points with debit card, and fees went up across the board.
Overnight, debit card rewards were eliminated. You can no longer earn points with debit card, and fees went up across the board.
A study done by The Federal Reserve Bank of Richmond showed that only 2% of retailers passed some of those savings on to consumers. All the others kept it or even raised prices.
Visit for more info and to send your senators a letter.handsoffmyrewards.com
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