A new bill in Congress is going to 'kill' card rewards programs, says United CEO

Wed, 10/25/2023 - 02:28

Scott Kirby thinks lower revenues for Visa and Mastercard will make them pull out of rewards programs.
Kevin Dietsch/Getty Images and Nicolas Economou/NurPhoto via Getty Images

United CEO Scott Kirby says a new bill in Congress is putting miles programs on the chopping block.
The Credit Card Competition Act, proposed by Sen. Dick Durbin, seeks to lower card swipe fees.
But Kirby said lower revenues for Visa and Mastercard would make them stop offering reward points.

United Airlines CEO Scott Kirby warned last week that airline customers could start seeing their miles programs disappear because of a new bipartisan congressional bill on credit card swipe fees.