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But those are paid for by your bank (by charging high interest rates on the percentage of people who don't pay right away), not by MC/VISA.
by Sesse__ 5y ago
But those are paid for by your bank (by charging high interest rates on the percentage of people who don't pay right away), not by MC/VISA.
- lotsofpulp 5y agoThe banks must be getting a piece of that because MC/Visa collect more depending on the rewards tier the card is in (Infinite/Signature/World and whatever other names they have). Also, MC/Visa charge basically nothing for debit cards, and they do not take on any of the chargeback/default risk of credit cards, so I assume the rest of the fees are for the rewards for the most part. Which is why Discover/Amex fees are similar too.