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Credit card fees, like insurance rates, are staggeringly high to cover all the crime and fraud. Just hope someday those companies don’t have to have their own l
by spandextwins 3y ago
Credit card fees, like insurance rates, are staggeringly high to cover all the crime and fraud. Just hope someday those companies don’t have to have their own law enforcement teams to go after the criminals who cause all that fraud and crime.
- arcticbull 3y agoMost of the fee goes back to customers in the form of cash back and loyalty points. The networks only get some 0.3% ish, the rest goes to the issuing banks. That's why you can get a no-annual-fee 2% cash back card like the Citi Double Cash. Debit cards that fall under the Durbin amendment to the Dodd-Frank act only charge 0.05% + $0.21
- asu_thomas 3y ago[dead]