Visa and Master Card Reached Swipe Fee Settlement

As we have seen, the network providers are going to reduce the processing fee costs. My wonderment is how this might actually affect the Credit Card users? Never seem to find a benefit when in fact that is what is hinted at? Inquiring minds want to know? Edit by Cassie: Via AP News Visa, Mastercard settle long-running antitrust suit over swipe fees with merchants

From that article: "Mary Liz Curtin and her husband own two businesses, Leon & Lulu, a retail store in a converted vintage roller skating rink, and Three Cats Restaurant, a restaurant in a converted vintage movie theater, in Clawson, Michigan. ... “Like every retailer, our cash sales and check sales have plummeted because people are charging everything,” Curtin said. “And that just means that there’s a lovely slice of 3% off the top of all of your sales.” ---- I know the prices won't go down, but maybe they won't go up as fast with lower fees? Then again, the rent/lease payments are probably the main driver now anyway. (BTW, awesome stuffed animal selection at Leon & Lulu.)

I see that Paloma Clothing place is asking for a rent increase lol. They should have just left out the low rent part...

It is unfortunate that companies who willingly agreed to their merchant agreements are going to end the credit card rewards game...

Saeren wrote: ↑Thu Mar 28, 2024 5:10 pm I see that Paloma Clothing place is asking for a rent increase lol. They should have just left out the low rent part... It is unfortunate that companies who willingly agreed to their merchant agreements are going to end the credit card rewards game...

In my memory was credit cards back to the 1970s where there may have been a skeleton of travel benefits but all you really got was a Visa or MasterCard credit card with Aprs from 19.9% to unlimited depending on your state usuary interest charges law. Delaware and South Dakota were favorite supposed bank locations due to the very flexible rates they offered as high as 36% Apr. No rewards. Gets better, your minimum monthly payments were 10%. Credit Limits were small $300 to $1000. Later there was a drop to 5% monthly and credit limits went higher with the intro of a gold card at CLs of $5,000 with better Aprs than the standard card. No real rewards till many years farther down the road. I loved MBNA Financial as they issued an MBNA Gold Credit Line starting at $1000 with checks no card (or benefits). Then, they added sweeteners of, use these checks and get a CL increase. Eventually, I ended up with and MBNA Platinum Credit Card with lots of benefits and a CL of around $60,000. Today they are gone in the US but, they ever have a place in my flock should their path change. Canada has them and their Aprs are high there.