The rate imposed on customers should be tied to the current rate charged for obtaining cash from the Federal Reserve.
Application fees should be charged to those who pose a credit risk and do not meet the average standards set by the credit issuing company.
All cards should carry the same rate for those consumers with a good credit paying history. If delinquency occurs a higher published rate would apply.
It would help boost the economy and at the same time give the consumer a break on the outrageous rates being charged individually by credit companies when their expenses are no where near the sums being charged.