How Much of the Swipe Fees Do Credit Card Companies Give Back to Us?
March 3, 2015
Every time you use your credit card, the bank is earning swipe fees from the merchant. It's these swipe fees plus other ways that banks profit off credit cards--interest fees, late fees, advertising to cardholders--that pay for the perks we get from credit cards.
How much of these fees are rebated to us? According to a recent article in The Economist:
[C]ard issuers are providing bigger rebates on purchases, more frequent-flyer miles as a sign-up bonus and longer interest-free periods for those who transfer balances from other cards.
How Much of the Swipe Fees Do Credit Card Companies Give Back to Us?
March 3, 2015
Every time you use your credit card, the bank is earning swipe fees from the merchant. It's these swipe fees plus other ways that banks profit off credit cards--interest fees, late fees, advertising to cardholders--that pay for the perks we get from credit cards.
How much of these fees are rebated to us? According to a recent article in The Economist:
[C]ard issuers are providing bigger rebates on purchases, more frequent-flyer miles as a sign-up bonus and longer interest-free periods for those who transfer balances from other cards.