Mogul of Pineapples
- Centurion Member
- Posts: 1271
- Joined: Sun Jun 01, 2008 11:32 pm
- Location: Smogland
Credit processing is a big business. The worst part (For the merchants) are that they get charged a different rate depending on what type of credit card is used.
Let's say you have a rewards card - it would be a higher percentage than a regular credit card. Then let's go a step further and say you have a rewards cards which are marketed as the highest level (there are other threads on here today actually about the Visa Signature, Mastercard World Elite, etc) all of those cards than have a higher rate than the higher rate reward cards.
With all the new categories of cards being added on you end up having 6 or 7 tiers or more of escalating transaction fees the credit card processing center is going to charge you as a merchant.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
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