While the popularity of rewards credit cards has exploded in recent years, retailers and policymakers have pushed government meddling that could end rewards cards as we know them – and end up harming consumers.
The Wall Street Journal estimates that fully 92 percent of credit card purchase volume takes place with rewards cards, up 25 percent from just 10 years ago. Those rewards are funded in part by “swipe fees”: fees paid by retailers to credit card companies every time a customer swipes their card.
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