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[quote=Anonymous][quote=Anonymous][quote=Anonymous]American Express Credit cards are 3.03% + $0.10 per transaction.

Visa and Master Card like 1.5% to 2.% on average. Plus a transaction fee

All colleges my kids attended passed on full cost  if you wanted to use a credit Card. My kids school is costing me $60,000 this Fall. If I swipe with Amex that is a a $1,800.10 charge to college and Visa is $1,200.10 charge to college.

Why people want ACH, Debit, Check, Cash, Zelle for payment  [/quote]

I think rewards cards charge a higher percentage too. [/quote]

They do- there are a range of fees, depending on merchant type, card type, whether it's done in person or "card not present", etc.  There are also lower fees for merchants who run higher volumes.  The charts start on page 9 of this PDF.

https://usa.visa.com/dam/VCOM/download/merchants/visa-usa-interchange-reimbursement-fees.pdf

These are the standard fees, they also negotiate deals with some really large merchants.  Costco when they switched from Amex to Citibank, because their credit card use base is so affluent on average, they negotiated a deal to be exclusive to Visa cards only, and got their interchange fees down close to zero, basically subsidized by Citibank for getting the deal.

https://optimizedpayments.com/insights/education/costcos-near-zero-interchange-with-visa-and-citigroup/

"Citibank is going to generate revenue [b]from the card being used at other merchants[/b] and interest on loan balances."

Again, these business models only make sense in the US where these fees aren't legally capped.  It creates a huge amount of revenue/profit for the banks and payment networks to play around with to build their businesses.[/quote]

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