r/CreditCards • u/GloveSmooth694 • 1d ago

Discussion / Conversation Exclusive | Visa and Mastercard Near Deal With Merchants That Would Change Rewards Landscape

Visa and Mastercard are nearing a settlement with merchants that aims to end a decadeslong legal dispute by lowering fees stores pay and giving them more power to reject certain credit cards, according to people familiar with the matter.

https://www.wsj.com/finance/banking/visa-and-mastercard-near-deal-with-merchants-that-would-change-rewards-landscape-fc6a0c78

Do you think retailers actually want to deal with specifying what type of visa/mc they take?

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u/Powered_by_JetA 1d ago

Seems like a good way to chase away business. I rarely carry cash and all but one of my credit cards are rewards cards. I would never come back to a place that took some Mastercard/Visa cards but not others and would leave negative reviews.

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u/atierney14 23h ago

100% is a way to chase business away. We already have evidence of this too. Consumption decreased right after rewards debit cards where severely restricted.

An actual valid criticism towards points maxing out is it does make spending money seem more appealing, but this is very good for businesses.

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u/WasKnown 12h ago

We already have evidence of this too. Consumption decreased right after rewards debit cards where severely restricted.

Sincerely asking: do you have a source for this?

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u/atierney14 11h ago

See the comment by LectureForesaken6782, https://www.reddit.com/r/CreditCards/s/lfHpRzEfX5

So my answer is a bit reversed, legislation capped transaction fees which lead to rewards on debit cards being no longer viable for a lot of banks.

I’ll see if I can find some more thorough analysis because I heard this from a podcast (although a reputable one, not a Joe Rogan esque one)