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Fees using Credit Card

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  • 13-02-2010 8:00pm
    #1
    Priapus
    Closed Accounts Posts: 114 ✭✭


    Query I have purely out of curiosity!

    You know when you book flights or something like that and there is a fee for using a credit card. Who does that fee go to? The credit card company or the company you are making the purchase from? And what justifies them charging in the first place? Anyone know about this real annoying charge?

    Thanks


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    #2
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    All merchants pay interchange fees to the issuing bank on every credit card transaction. It's in the region of 1-1.5% or so. Part of the fee you pay goes toward this.

    What justifies them making the charge is that people are willing to pay it because of the convenience of using a credit card.


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    #3
    Priapus
    Closed Accounts Posts: 114 ✭✭Priapus


    Thanks Sean, answers to both parts make sense. Cheers


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