I'm reading that credit card rewards are about to be reduced big time. Apparently legislation may soon be passed altering the fee structure for using credit cards (that merchants now pay) - apparently these fees subsidize rewards such as the 5% I enjoy on groceries after my employee discount and the 2% I earn on anything else (though these days I don't use the card much due to how unstable all is). On the one hand, I do like to earn a few dollars on non-frivolous spending - on the other hand, if rewards were reduced, would this maybe stop a few people from having incentive to overspend? Though I will say that back when I was waiting tables and overspending, rewards reduction at that time would not have been enough for me to stop overspending as I was so on the treadmill.

What's your take on credit card rewards? Rob