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Stories Tagged as

Credit card fees

A cap on credit card fees would hurt department stores most

by Kristin Schwab
Apr 29, 2024
Charge cards have become an important piece of the bottom line for department stores, including Nordstrom, Macy’s and Kohl’s.
It's often easier to get approved for a store card than a bank-issued card, but interest rates are higher.
Michael M. Santiago/Getty Images
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The fees war between retailers and credit card companies is heating up

by Sabri Ben-Achour
Feb 26, 2024
Merchants paid $126 billion in credit card fees in 2022, up 20% from the year before. The pushback is playing out in lobbying campaigns and Congress.
Merchants from gas stations to ice cream shops to Amazon have complained about credit card fees and contracts, and many are lobbying for credit card regulation.
Justin Sullivan/Getty Images
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