Wonderful reward cards — No, not for you!

(March 21, 2013) -- When a customer gives a merchant a rewards card, the merchant’s rate for accepting that card increases. In so called “tiered rates” the transaction falls to the mid-qualified rate, which is enunciated on the credit card statement. In plain English, business owners are paying the freight for issuing bank’s rewards and, of course, you don’t know which card you accept is a "rewards card." Horrible isn’t it?