Originally Posted by hunterbuck
He's not wrong when he says they're not the banks. Consumers owe Visa/MC nothing. Their fees are all paid by businesses. In the past, it was strictly a "hidden" charge. Since covid, many businesses have chosen to pass the charge along to card users in the open.

That said...I'm sure they have an idea of what the consumer debt on credit cards is...but credit card debt is not Visa/MC's problem, to be honest. They have zero control of what banks charge for interest on their cards.


True, but if they know their profit is 50% (or a bit higher as admitted by Visa) they know what is ultimately owed to them by the banks using their service. Not saying they set rates, etc, but they KNOW their business numbers. Credit card debt isn't their problem, it is their business. Ours is payed off monthly, so we take advantage with an airline card (my wife travels for work, so we get "miles" or however they quantify it now, since they don't go by legs traveled).

experience is a freakin' awesome teacher....