AITO response to gov statement on cc charges - Tue 25th July 2017

Whatever your views  on credit card charges, the response here at travelmole gives some balance and facts to the government’s recent statement on the issue.

Credit card issuers do use their cards as marketing platforms, in which they offer cash backs or freebies of some kind or another. These card issuers then recoup their giveaways by charging over 2% to the merchant, which means it is costly to receive payment.

It would be simpler and fairer to merchants and consumers if all issuers agreed a set rate, but all cards differ in fee charges and have become increasingly costlier.

Our credit card fee is 2%, or no charge if you use a debit card. We do advise clients about financial protection on both types of card here at financial security

Posted by Bruce Gibson

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