You know that those cashback and airline miles rewards are all paid out of interchange (which is part of what the merchant pays), right? The Dodd-Frank Reforms,

You know that those cashback and airline miles rewards are all paid out of interchange (which is part of what the merchant pays), right? The Dodd-Frank Reforms, specifically the Durbin Amendment limited interchange on Debit transactions, killing debit rewards cards. Meanwhile, Visa's interchange rates keep getting beaten down, they're passing through 1.8% to whoever your bank is on average across all cards, with the higher end rewards cards being of limited issuance. If they issued everyone a Visa Signature Preferred card (at 2.10% interchange) like the Chase Sapphire Prefered, Visa would get sued by Walmart, Kroger and the like. Interchange keeps falling due to regulation and lawsuits, up in Canada Walmart even stopped accepting Visa. Interchange Rates for Visa: https://usa.visa.com/dam/VCOM/download/merchants/visa-usa-interchange-reimbursement-fees-2016-april.pdf https://usa.visa.com/dam/VCOM/download/merchants/visa-usa-in...