Not that anyone, after the other 40 reforms are implemented, should be a particularly terrible credit risk, but I think that credit cards and other forms of personal credit should have a maximum APR of 15-20%. If a loan can't be profitable at this interest rate, then it shouldn't be made at all. You only ending up letting big credit card companies charge the people least able to bear it massive interest rates to finance purchases that very well should not be made at all.
This would also help curb runaway consumer spending and macroeconomic imbalaces.
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I'm not entirely sure I have an objection to 'no cash.' I'm just skeptical of it's feasibility. Cash, no cash, whatever. As long as I can continue to collect those fat government cheese checks.
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