Premium credit-card users are in for a big surprise: Their JPMorgan Chase Sapphire Reserve, and many other rewards cards, could soon be rejected by merchants.
No longer would merchants have to “honor all cards,” instead they can reject credit cards that charge merchants bigger fees for each transaction, a concession Visa, Mastercard and banks have balked at for ages
Looking forward to chaos at the Walmarts :)
Do the premium cards charge bigger fees?
If they do, it's likely because the retailers know that the users of those cards are bigger buyers.
Not obvious they'll be so quick to pull the plug on those customers' cards
I recall reading that some companies which offer elite cards actually don't charge but they have minimum usage / balance criteria. The same companies' lower-tier cards without strong rewards programs help bankroll the elite cards. I don't recall the company name(s) though.
Some merchants will do anything to avoid accepting Bitcoin.
ahha
lmao