In this video I show you vital details about money back charge card in2020 The main point that I wish to cover is why the E.U. (European Union) does not use money back charge card and why charge card costs and deal may be the reason.
There is no doubt that compared to the United States charge card, the European Credit Cards have really little benefits. The factor for this is the EU Interchange Charge Policy that controls the charges paid to process card deals (both credit and debit).
The interchange charge and is a cost charged by the card business for using their charge card (Visa, MasterCard, etc) or a cost paid to process the card deal in between the banks. There are several meanings based upon each specific scenario.
Here is the catch: In the United States, the cost averages approximatively 2% of the deal worth. In the EU, after the EU Policy, the interchange costs are topped at 0.3% for the deals with a charge card and to 0.2% for deals with a debit card.
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Money Back Credit Cards (2020): Why E.U. Does Not Deal Money Back Credit Cards|Charge Card Charges
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Disclaimer: I am not a monetary consultant. I am attorney by occupation, I am not your legal representative and no attorney-client relationship is developed with you in any method. This video, and the concepts provided in it, are for home entertainment functions just and must not be interpreted as monetary or legal recommendations.