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A no/low reward card that charges far lower merchant fees? We have those. They're called "debit cards". Sure, not quite the same, but the only way to do it (si
by lostcolony 8y ago
A no/low reward card that charges far lower merchant fees? We have those. They're called "debit cards".
Sure, not quite the same, but the only way to do it (since debit cards also remove the risk that credit cards do, namely, defaulted payments, which causes the fees to inflate a bit).
- dmckeon 8y agoGood point. To be more explicit, I'd like to see credit cards with good fraud protection for card-holders, no rewards/points systems, far lower & competitive merchant fees, and minimal fees to card-holders, other than interest on balances, of course. It sounds like card issuers in the EU and AU are doing this, or most of it, but that those in the US are not, presumably because they are making a nice profit doing it at 2%-3% now, and have a good moat around their businesses. By "good fraud protection" I mean the kind that US banks do for credit-card holders now, and not the kind they do for debit-card holders.