The financial reform compromise may keep our financial system from reprising Chernobyl anytime soon, but it will also change the way consumers use their credit cards. Merchants will soon be allowed to refuse plastic for purchases of less than $10, a rate the Fed can boost as they see fit. Both the Fed and universities will also gain the power to set maximum credit charges. That means no more free flights to Europe after charging your kid’s tuition to your rewards card. The changes will go into effect the day after the compromise is signed into law.