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CC transaction fees..Who gets them?

Discussion in 'Credit Talk' started by thattaway, Dec 9, 2001.

  1. Dec 9, 2001 #1
    thattaway

    thattaway Well-Known Member

    I have a quick question for you all. I know the merchants pay a 2% to 5% (depending on the card) fee to process the payment. Does Visa or Mastercard keep the entire fee or do they share it with the bank that issues the card.

    This would be helpful knowledge to have when asking for a APR reduction.

    Trevor Hattaway
     
  3. Dec 9, 2001 #2
    skittens

    skittens Active Member

    The fees are split between the merchant's bank and the bank that issued the card. You can definitely use it for leverage with the CC company if you charge a lot.
     
  4. Dec 10, 2001 #3
    lbrown59

    lbrown59 Well-Known Member

    How do you do that?
     

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