Consumers aren’t the only ones who are paying to use a credit card. VISA, Mastercard, Discover, AMEX are playing the other side of the field as well, charging merchant fees (known as interchange fees) to any business owner who accepts credit cards as payment. This fee is ultimately paid to the credit card company who [...]
Entries Tagged as 'interchange fees'
Reforms Considered for Hidden Credit Card Processing Fees
January 14th, 2010 · 2 Comments · Banking, Credit Cards
Tags: consumers·Credit Card Fair Fee Act·credit card processing fees·Credit Cards·interchange fees·Mastercard·merchants·New Legislation·reforms·Visa
Banks Increasing Reliance on Income From Late and Over-the-Limit Fees
June 25th, 2008 · No Comments · Banking
Isn’t Congress supposed to be doing something about $40 late and over the limit fees From 2002 to 2006, the nation’s ten largest banks increased their reliance on fees by 17%. From 1994 –2005, over–the-limit fees in the credit card industry more than doubled, while late fees nearly quadrupled. Interchange fees–fees credit card issuers charge [...]
Tags: ATM fees·banking fees·credit card fees·increased banking costs·interchange fees·late fees·over the limit fees·overdraft fees
