Let’s All Pity Our Neighbors in Europe as Their Rewards Cards Go Down the Drain

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    The EU adopted new rules limiting interchange fees, or the prices that payment networks can charge, for credit and debit cards. I asked, are credit cards about to be killed off in Europe? The economics of credit cards as we know them are predicated on fees that go to the payment networks and banks in exchange for processing transactions. Miles from Blighty pointed out today that Capital One has stopped issuing some rewards cards and is informing existing customers that their cards will receive less in the future.... Continue reading Let’s All Pity Our Neighbors in Europe as Their Rewards Cards Go Down the Drain...

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