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The Damage of Card Rewards (Your Money)

Date: January 9, 2010

Author: Ron Lieber

QUOTE: the 1 to 3 percent or more of every transaction that merchants pay to accept the cards is a significant cost, and the small local retailers that make neighborhoods vibrant often pay a higher percentage. Stores then build those fees into higher prices, so people who aren’t earning any rewards can end up subsidizing those who do.

• Read it: New York Times
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Article MetaInformation:

Key People:

• Dave Hanson
• Prof. Steven Semeraro Esq.

Key Organizations:

• American Express Company
• Discover Financial Services
• MasterCard International Incorporated
• National Association of Convenience Stores (NACS)
• National Retail Federation (NRF)
• New York Times Company
• Visa U.S.A.

Subject & Geographic Categories:

• Abstract Principles
  • Control / Access / Permission
    • Sharing / Resource Allocation
  • Motivation/Rewards/Punishments

• Businesses & Organizations
  • Industry-Specific Issues
    • Banking/Lending
  • Purchasing / Procurement
    • Pricing / Discounts / Costs / Rebates

• Personal Finance & Career
  • Personal Finance
    • Personal Asset Management
      • Banking
      • Debt / Credit Rating
        • Credit/Debit Cards

• North America
  • United States of America/USA

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