A new piece of legislation could change the credit card system as we know it.
Illinois Senator Dick Durbin introduced the Credit card Competition Act in June.
If it passes the bill would change the way purchases are processed on credit cards.
Advocates say it would benefit retailers currently,
banks who issue credit cards take a fee for
each transaction and sometimes that's as much as 3%.
The bill would allow retailers to work with
processors who would not collect high fees.
But critics say it could wipe out the credit card rewards system.
The fear is that if big banks don't collect those fees,
banks won't be able to fund all the rewards that shoppers earn.