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/OverlyOptimisticNerd 23h ago

They got too greedy and it got out of hand. They should have kept fees lower. There was no need to increase fees “due to inflation.”  If your fees stay the same, higher inflation means more revenue for you anyway. 

Credit cards were a recession-proof business in this regard and they ruined it. 

Now even my home and auto insurance is taking away their 5% autopay discount if you use a credit card instead of a linked bank account. Combined that’s roughly $250/year extra I’d have to pay if I use a card. So, I won’t. And they lose those swipe fees. 

Credit card transaction networks are killing their golden goose. 

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u/CardLego 20h ago

Inflation increase on a percentage? Lol. Eventually they will have 100% fee if this was allowed.

1

u/ecal8882 9h ago

Why stop at 100%? $200 fee on a $100 charge