Quote:
Originally Posted by rowan
The bank still makes money on merchant fees. When I got a Visa debit card many years ago the teller was raving about how great it was and how I could charge everything to the credit account without worrying about excess electronic transaction fees... win for the bank because the merchant pays the fees. This was before law was passed that allowed merchants to impose a surcharge for CC payments.
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Fees will never equal interest. Unless he is making 10,000 $2 purchases I don't think he would be a great loss.