this post was submitted on 16 Nov 2024
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I'd never heard of this, how do the banks make any money on the card, annual fees or something?
They already make 2-3% on every purchase
No, we had a flat annual fee for usage. There was a fee for withdrawing cash but no making purchases.
The merchant is charged the fee, not you directly as the cardholder. It's already figured into the price if they accept cards.