Tag Archives for discover.
Josh Hawley calls it “destructive corporate consolidation at its starkest” and says it will “create a new juggernaut in the credit card market, with unprecedented powers to extort American consumers.” Unprecedented? American Express operates closed loop payments (card issuer and payments network) today, and Chase issues nearly as many cards as this combined business would.
Durbin-Marshall seeks to require cards to be used either on the American Express or Discover networks as a challenge to Visa and Mastercard. This deal massively bolsters Discover, creating more competition in payments processing.
Ultimately by promoting competition without legislative action (and legislative destruction), this is great for consumers and rewards.
I’ve argued that the biggest threat to rewards credit cards is that interchange fees, the percentage of each transaction that the banks and payment networks take, will fall.
However the opposite seems to be happening. TVisa, Mastercard, and Discover are set to raise interchange rates slightly this spring.
A roundup of the most important stories of the day. I keep you up to date on the most interesting writings I find on other sites – the latest news and tips.
A roundup of the most important stories of the day. I keep you up to date on the most interesting writings I find on other sites – the latest news and tips.
A roundup of the most important stories of the day. I keep you up to date on the most interesting writings I find on other sites – the latest news and tips.
Urbanr lets you pay rent by credit card. They charge the tenant’s card, and the landord receives payment electronically in 3-5 business days.
And at 1.5% you’ve got a worthwhile margin even with a 2% cash back card though you can do better than that. Plus they’re offering $10.
A roundup of the most important stories of the day. I keep you up to date on the most interesting writings I find on other sites – the latest news and tips.
Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel -- a topic he has covered since 2002.
Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »
