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That's some great info, Wanda. Thanks
I have no idea who pays for the rewards, miles etc. All I know that it's a ploy to spend more.
The "merchant" who accepts your rewards card pays for your rewards!
mc-visa-disc. all charge higher interchange rates to the end retailer who
processes rewards & biz cards..
that's why merchants hate those pesty rewards cards.. because they
cost them so much more in rates & fee's then standard "consumer debit or credit cards"
But.. there is now a "new" type of credit card called The Revolution Card..
this is the 1st PINNED BASED Credit Card.. which helps reduce fraud almost 100%.. must enter your pin number when using the credit card at a retailer.
No card # is imprinted on the face.. so even if someone stole your credit card.. they would not know your pin number.. and your card would be useless to them.
And the other huge benefit of this Revolution Card is the fact that it only costs the retail merchant .50% to process the trans.
Where as other credit cards can cost the retail merchant anywhere from 1.15% - 3.00% depending on the type of card.
:smile: