News for hackers. Stuff that matters.

A comment on Can the Visa-Mastercard duopoly be broken?. Parent comment

Re:Can the Visa-Mastercard duopoly be broken? by jasonwatkinspdx on Wednesday August 17, 2022 @06:52PM (#32502819)
It's worth noting there's some real economic disparity in just who can get rewards cards with significant incentives in the US.
[ Parent | on HN ]
Re:Can the Visa-Mastercard duopoly be broken? by arcticbull on Wednesday August 17, 2022 @06:54PM (#32502840)
Yep, but also, those vanilla no-rewards Visa cards only have interchange rates as low as like 1.5% whereas those high-end cards like an Amex Platinum can cost as much as 3.5%. [1]

[1] https://www.bankrate.com/finance/credit-cards/why-american-e...

[ Parent | on HN ]
Re:Can the Visa-Mastercard duopoly be broken? by ShroudedNight on Thursday August 18, 2022 @12:27AM (#32505271)
Yet the price the purchaser pays doesn't change, so the less fortunate end up subsidizing the rich. Credit card rewards are egregiously regressive.
[ Parent | on HN ]