It's really not going to change much. Visa and MasterCard rates are already almost identical, and American Express will continue getting away with higher fees b

It's really not going to change much. Visa and MasterCard rates are already almost identical, and American Express will continue getting away with higher fees because of the higher net worth and spending power of its customer base. I sell business services and most of my credit customers pay with Amex cards. They typically have higher credit approval barriers and annual fees, which their customers gladly pay for the raft of benefits the other issuers don't offer (extended warranties on all purchases, accidental damage coverage, rental insurance, travel insurance, roadside assistance, etc). Price is not the only dimension a card issuer can compete on. Further, aside from Amex and Discover, the card issuers have no control over merchant fees. Chase can't issue a Visa card with lower merchant fees than Wells Fargo because neither bank sets the fees, Visa does.