My boss was lamenting his inability to figure out aspects of his credit card bill the other day. He could read the list of charges well enough, but he was trying to find out how much cash back he was entitled to, and how to collect. On page one of his bill there was a clear indication of "Reward Dollars." However, this was not the cash back rebate he was looking for.
Indeed, later in the literature accompanying the bill, there was language about his ability to apply his rebate against his balance. Notice, it mentioned rebate and not "Reward Dollars." He said he felt so stupid. I told him that he shouldn't. Credit card companies spend millions of dollars a year on lawyers to intentionally create this kind of confusion.
The Democrats were writing legislation to clear this stuff up. The Republican objection to clarity was that Americans are free to sign the credit card application or not, and making things more customer friendly was just "Democrats think you're stupid!"
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