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Talk about a slippery slope.....for some people, this would be great - personally, I would love to get cash back on my mortgage payments. And in fact, I lived at an apartment complex one year that allowed me to charge my rent payment, so I got lots of airline miles (before cash-back cards). It was also nice to be able to make the charge over the phone rather than dropping my check in a box.

But for people who already have debt issues, this could be disasterous. People who are already overspending could feel that they have even more 'money' to spend because they can still make the minimum payments - at least until their interest rate on their card spikes because they are over-utilizing it.

And just weeding out people by their credit scores isn't going to capture all of the potential disasters. Think of the people who come to this board with tons of debt, much of it at low BT rates. To get the low BT rates, their scores are probably in the prime range, at least for the moment.


I agree, but I also think that this is true of most things that can get you into debt: Some people will use them responsibly and some will not.

As long as banks are greedy (forever) it will always be like this. Have you ever heard of a bank that will shut down a card because a payment is 30 days overdue?

"Dear Mr. Swim, we'd like to inform you that your account has been suspended due to an overdue payment. We are well aware that you have $5000 remaining on your limit, but we'd never want you to get in over your head... just think of the fees we'd have to charge!"

Hah. Just remember, I like my rewards as much as everyone else, and these days I'm smart enough to pay it off every month, but those rewards would either:

1. Not exist
or
2. Be a fraction as lucrative

If everyone else was responsible with their card. You don't make something from nothing. Don't ever forget that.

-Swim
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