2.19.2010

I can now carry a handgun into a national park ..... because of the Credit Card Act?!

The Credit Card Act: Who Benefits and Who Doesn’t

Excerpt:

Consumers will also likely see a decrease in credit card rewards or cash rebates, as well as increased Annual Percentage Rates. According to the LowCards.com Complete Credit Card Index, the advertised rate for credit cards averaged 13.46% last week. Six months ago, the average was 12.11%. A year ago, the average was 11.51%.

However, it’s not all bad news. The CARD Act will benefit those who want to visit national parks while carrying loaded firearms. Current laws only allow people to carry guns in national parks if they’re unloaded and out of reach. (Republican Senator Tom Coburn of Oklahoma realized how important the CARD Act was to President Obama and traded his vote in exchange for slipping in this wholly unrelated amendment.)

From an investment perspective, analysts believe credit card companies’ revenues should be stable in the short-term, but looking forward, the CARD Act could sting slightly.


Comment: Love how Congress works!

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