Yes, effective processing fees are consistently around 2.9%. The previous comment was basically saying, "hey! whaddya expect! credit card companies do it, so wh

Yes, effective processing fees are consistently around 2.9%. The previous comment was basically saying, "hey! whaddya expect! credit card companies do it, so why not!?" My point is that, actually, no, they don't really. The visa+MC per transaction fees are actually quite low, unless I'm reading that wrong. Again, this is a complete sidebar to the actual point, which is that banks are just rent-seeking because they can on these loans.