Credit Card Costs to companies

DaisyDaisy

Hi,

does anyone know how much companies like Mastercard and Visa charge businesses for transactions we make using their cards?

I know these businesses then pass the on to charges onto the consumer- but I have just been charged £7.96 for one Mastercard transaction, which seems more than a little excessive.

Thanks!

BMWobbleU

DaisyDaisy wrote: »

Hi,

does anyone know how much companies like Mastercard and Visa charge businesses for transactions we make using their cards?

About 1.75%, depends how big the retailer is and what deal they can cut with the processor.

DaisyDaisy wrote: »

I know these businesses then pass the on to charges onto the consumer- but I have just been charged £7.96 for one Mastercard transaction, which seems more than a little excessive.

Thanks!

Depends how much you spent.

DaisyDaisy

I only spent £139. think i will write an angry letter.

cm233lh

I think credit cards charge a flat rate plus a percentage, but they have different deals with different retailers. I think on justgiving.com they declare what the rates are so you can see which card to use.

The retailer should tell you what they're going to charge, so you can decide whether the cash-back and interest free period are enough to cover the charge (they normally aren't). 5.73% does seem a little excessive.