Buck Sexton

And I know they're different depending on where you might live or what your overall credit rate is.

First of all, I don't know that the president has the authority to be able to do this.

Legally, I know there's bills out there that would potentially cap this.

Ted Cruz said, hey, here's my concern.

He was just on with us last hour when you asked him this question.

To what extent does that curtail the amount of interest that is available in the market?

Because I think what the credit card companies would argue is the reason we have to have rates that high is because if we're going to extend credit to people...

that may not pay us back, we have to have an ability to make sure that we make the best possible profit that we can to alleviate the risk that comes with making credit card credit available to everyone.

Now, you just said, Buck, your credit card interest rate you think is 29% on your credit card?

I don't even know what my credit card interest rate is.

I would also point out banks will screw you at every opportunity that they can, too.

So a lot of people talk about unfair fees that are hitting them on credit cards.

Banks hit you on unfair fees all the time too.

My number one advice to the extent that you can do it is, and I think a lot of financial advisors out there would say this, you are way less likely to spend money if you use cash.

Because in your brain, this is just the way we're all wired, cash, you feel it in a way that you do not when it comes to paying with a credit card.

And the reason why the credit card industry works is because people live beyond their means and they take advantage of you.

You ever fly on an airplane?

You ever notice how often they walk around trying to get you to sign up for credit cards on an airplane?

It's because the airlines now make as much money just about off their credit cards as they do actually off of the airline itself.

It's one of the craziest things out there.