I'm not sure airline miles are perks

Barbara Kiviat unravels the American Bankers Assoc. press release story in the Times this morning about credit card companies threats to impose new fees and (gasp) immediate interest on purchases by their best free-loading customers.

In short: Bullshit. There is a reason that about twenty years ago card issuers went into a marketing war over "no annual fee." There is a reason they continue to send new cards to people who pay their bill in full each month, even as months grow shorter and shorter.

Their customers have options. Buying shit with credit cards is a convenience, not a necessity.