Here’s something you won’t see on the “Mainstream Media”… It’s possible that YOUR credit card may soon be cancelled. I’m going to tell you why and I’m also going to tell you what you can do about it. First, here’s a quick summary for those of you who love summaries: A growing number of banks are cancelling or scaling back rewards-based credit cards as part of a broader retrenchment in consumer lending. Several major issuers have begun discontinuing high-perk cards entirely, while others are stripping benefits, reducing points values, or tightening qualification standards. The primary driver is financial pressure within the banking sector. Rising loan losses, tighter margins, and higher regulatory and capital-reserve requirements are leading institutions to cut costs in areas that don’t generate direct revenue. Premium reward programs — historically subsidized by high interchange fees and aggressive competition — are among the first areas being reduced or eliminated. Consumers affected by a cancelled rewards card may lose the elevated perks they previously relied on, including travel benefits, high cash-back rates, and large bonus offers. With multiple issuers retreating at the same time, overall market competition for premium perks appears to be weakening, suggesting fewer generous rewards options going forward. The changes signal a shift toward a leaner credit-card landscape in which banks prioritize risk-management and profitability over promotional incentives, leaving many cardholders with diminished value or no-longer-available products. Now I want to show you a video from my friend Kevin who does a great job explaining this and breaking it all down. Below that I will put a full transcript of the video if reading is better than watching for you and below that I will tell you exactly what you can do right now to protect yourself. Ok, watch here: FULL TRANSCRIPT: It’s soon possible that your credit card that you get rewards on could get rejected by the stores you go to. Take a look at this. There’s a new Visa and Mastercard agreement that took 20 years to litigate. The Wall Street Journal first reported on it. It’s since been covered a lot in financial media because people are wondering how does something, first of all, take 20 years to litigate? Attorneys made literally a whole career off of this. But apparently the idea is that right now companies, based on the credit card that people use, get charged different interchange fees. That’s sort of like that disguised fee that the merchants pay when you go buy something. So you go to a local coffee shop and you use a certain preferred card, you might pay 2.4% or as much as 2.8% on a credit card. On lower-expense cards, maybe cards that don’t really offer you that many perks, the merchant may only get charged, let’s say, 1.6% or maybe as low as 1.3%. Well, there are three buckets of cards. The buckets of cards are commercial, premium, and standard consumer cards. And it’s possible that companies might now—businesses that you go to might now—say, “Hey, we’re not interested in taking your Chase Sapphire card or your Amex Platinum. We’ll only take a standard card.” Now, Moody’s makes the argument that by doing this, businesses might end up risking pissing people off and then people don’t end up spending at those businesses, which is possible. But most of the higher-income credit card holders have multiple credit cards. So theoretically they can switch to another credit card and pay. Now what’s wild about this is really what you do by doing this is you kind of screw small businesses. Again, I wrote this—I’m not going to actually post it—but I wrote this comment. I sort of just wrote it out on the Wall Street Journal as a little template thing here in the comment section. I wrote that the competitive advantage of the big companies is that they can just go make their own credit cards. I mean, look at Robinhood for example. Robinhood’s 3% cash-back card is not a sustainable credit-card business. We know that because even in their financials, they tell us they’re basically losing money hand-over-fist on this credit-card program. I mean, look at this. If you look right here, you could see on this lower section, you could see that Robinhood—which offers to, you know, certain customers who qualify for it—offers a 3% yield on their credit card, which is great. You get 3% cash back. It’s amazing on everything. No limits, right? It makes you want to sign up for Robinhood and hopefully get off the waitlist. Well, their revenue on the credit card net is $24 million. Their expenses related to these credit cards—possibly with some other credit facilities, they’re not very clear about that—are $24 million. So assuming most of this is credit-card-related, they make $0 on the credit card. But wait a minute—that doesn’t even account for the loss reserves that they put aside for people not actually paying the $200 million that are outstanding on Robinhood Gold card credit cards. So what you find is that Robinhood actually takes a $55 million allowance for credit losses, which means that Robinhood is basically losing $55 million on the Robinhood Gold card, which—if they have $200 million outstanding on the card—is basically a fourth of all Robinhood Gold card balances they’re writing off for an assumption that there will be losses on these cards. So why would Robinhood do that? Well, to get you to sign up for Robinhood, of course, and hopefully get the card because 3% back is good. Like, if you’re at Robinhood, why would you not use the 3% card? It totally makes sense. Otherwise you use the Apple Card and get 2% back, maybe 1% back. You use the Citi Double Cash card and get 2% back. You use the Venture X card and get a little more than 2% back. Bank of America—if you have like six-figure deposits—they’ll give you like 2.5-ish percent back, right? But the standard for cash back right now is somewhere between 2 and 2-and-a-bit percent. Well, big companies can subsidize that. Like think about this: one of the big advantages of a company like Amazon—or Target—is that these companies can actually incentivize you to get a 5%-back store card. Like I personally have a store card with Amazon, with Target, and with Lowe’s because when I go shop at Lowe’s, I get 5% back on top of the other discounts we get at Lowe’s. If I go shop at Target, I get 5% off the ticket price. Five percent back at Amazon. If I go buy something on Amazon that’s $100—let’s just for simplicity not include sales taxes—if I buy something for $100 at Amazon and I get 5% off at Amazon, it cost me $95. If I go to a local store, a local business, and I buy something that’s $100, and then the local company tries to pass on like a 2.5% credit-card fee, then they’re really charging me $102.50. Well, the difference between paying $95 and $102.50 is 7.9%. A little dyslexic there. That’s a lot. So who loses in all of this is probably the small business that’s like, “Dude, we can’t afford all these credit-card fees anymore. We’re going to start rejecting premium cards or we’re going to have to charge people for the credit-card transaction fee.” Well, that just makes it even more expensive to go shop at a small business compared to an Amazon, Target, or Lowe’s, where they’ve actually—or Robinhood—where they could totally take a loss on the credit card to basically step on small businesses and destroy small businesses. That sucks. So all of a sudden you’ve got more of a reason not to go shop at small businesses. And it sucks because these are hardworking American businesses who are trying to compete. See right here—more and more merchants, especially small businesses in recent years, have begun passing on the interchange fee to consumers. Now, some small businesses are starting to try to collect money through PayPal or Zelle, which maybe that’s good for PayPal. And you know, I was just saying for HouseHack, I was just paying for quartz countertops with Zelle, and there’s no credit-card fee there. So I mean, good for them, because when I do Zelle or even PayPal or Venmo, I always put it as “friend” because I don’t want them to have to pay the fee and it’s like I don’t need the payment-protection bull crap. So I just say they’re my friend and then I don’t pay the fee and they don’t pay the fee and they’re happy and I’m happy. And it’s like—I’m not trying to dispute the charge with them because I got the countertop. I’m looking at the countertop. It’s in my property. You know? So it’s like what’s there to dispute? What do I need a warranty on a quartz countertop? So anyway, the point of this is apparently this deal per the Wall Street Journal editorial board will cap the fee that could be charged for standard cards at 1.25%. Which if you look over here, that’s a reduction because some of the standard cards are at 1.65%. So there’s a limit on the standard cards. So you’re going to see a compression in the benefits that even standard cards give you. But the risk is that now you end up seeing premium cards get rejected at businesses and they’re like, “Hey, if you’re going to pay with a premium card, we’re just not going to take it.” So that actually hurts—potentially—not necessarily going to happen anytime soon, but it could happen. Your Amex Platinums, your Chase Sapphire Reserve kind of cards or whatever. Now, I’m all for Chase getting a big fat middle finger. Like, I love this. Look at this—Fox Business reporting that the attorney general of Florida is now probing JP Morgan Chase over alleged debanking of Trump Media. They’re basically saying, “Why did you debank Trump right when he was in the middle of trying to fund-raise for the Trump Media group and the stock going public or whatever, closing the merger of it?” Because the SPAC was public before that. JP Morgan’s getting investigated. I don’t think we hate the big banks enough. I think the big banks—and this is just my opinion—but look, don’t get me wrong: in 2022, at the end of 2022, I remember saying, “Guys, there’s something weird going on. You might want to be cautious with small banks because there’s something brewing.” I didn’t know what the hell it was, but to be transparent, I put money in Chase because I’m like, “Well, they’re too big to fail.” Then what happened? We literally went from the end of 2022—if you go watch my videos, December ‘22, January ‘23—I’m like, “I don’t feel good about small banks right now. Really eerie.” But what happened in March of 2023? Banking crisis. Who’s too big to fail? JP Morgan. So it’s a place to go for safety with your cash deposits right now. Of course, FDIC ended up bailing out all banks, which de-facto means there’s no more $250,000 FDIC limit. It’s sort of like an infinite limit because they don’t want banks to fail. They don’t want depositors to lose their money—especially the rich tech bros over at Silicon Valley Bank that all got bailed out. But anyway—now what? Well, now you look and you see JP Morgan rug-pulling companies, which maybe they deserved it. But I wouldn’t be surprised if JP Morgan is going around rug-pulling a bunch of other people’s lines of credit, warehouse lines of credit, margin calling people because they’re getting nervous about the economy. And that’s how it starts. That’s how credit cycles start. The banks stop lending. They start getting more restrictive on how they lend. And that’s why I say you don’t hate the big banks enough. Because when times are good, they’ll lend to you like crazy and they’ll be your best friend. They’ll take you on trips. They’ll take you out on boat excursions, whatever. They will suck up to you if you’ve got money and times are good because they want your debt. They want you to borrow. Times go bad, they rug you. This is one of those times where we’re at one of those teeter-totters in the economy where you don’t want to be beholden to the banks right now. So sorry—that’s a tangent off of the Chase Sapphire—but I believe it. I mean, Wall Street Journal is literally talking about it. See: premium card users are in for a big surprise there. JP Morgan Sapphire Reserve and many other rewards cards could soon get rejected by merchants. A 20-year legal battle suggests that companies no longer have to “honor all cards.” I mean, I can kind of see—if you go to Amazon, they might just say, “Hey, sorry, we don’t take the Reserve card anymore.” Makes sense to me. Or if you think about it, like— Someone says, “You’re making me more and more jaded.” I apologize. I feel like the more and more we study markets, the more you have to be jaded. But it’s good. Like, I actually think a lot of people who invest in HouseHack are very, very jaded people because they’re educated and they’ve been screwed before and they’re like, “All right. Obviously read the solicitation—there are risks with every investment, the video is not a solicitation, read the offering circular.” But it’s like—it’s a real-estate-backed company. Worst-case scenario, it’s still backed by real estate. Do we trust investing in real estate and Kevin’s ability to lead that? Right? But we get people that ask very smart and savvy questions and people are very… like, I think in order to get through the world and through life, you have to kind of be a little jaded. At the very least, know where your risks are. So I’m not saying don’t go bank with Chase and don’t have a warehouse line of credit. But like—let’s say I’m a roofer right now and I’ve got a $100,000 payroll line of credit, business line of credit with Chase. Do I brace myself right now? Because if in three weeks we get a bad jobs report and then all of a sudden JP Morgan goes, “Yo, I’m freezing your line and I’m calling it due and payable in the next 60 days.” Like—bro, you’re going to bankrupt me. What’s Chase going to say to me? They’re not going to go, “Oh sorry, we’ll extend your line.” No—they’re going to go, “Sorry bro. Peace.” Then you’re screwed. So I’m not saying they’re definitely going to do that, but I’m saying they can do that. And it has happened. And it will happen again. And that’s why I have this mindset of: I would rather you be jaded and aware than get blindsided. If you have the line of credit and you’re aware of the risk, great. But I think a lot of people honestly are not aware of how the banks can absolutely rug you. And that’s the scariest part—the real rug pull that could happen. Ok so now the big question: What can you do about it right now? I’m glad you asked because I have the PERFECT solution for you. And not only can I help you stay protected but I might just be able to get you ZERO PERCENT INTEREST until 2027! Yes, really! STRESSED OUT Over Credit Cards? Here’s How To Pay 0% Interest Until 2027 [Yes, It’s Real] High-interest credit cards can make it ridiculously hard to get ahead. But there’s a solution: transfer your balance to a credit card that offers a 0% intro APR until nearly 2027 on balance transfers and no annual fee, which means more of your money actually goes toward paying down your balance. 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