alt Hacker NewsSo why don’t the Visa and Mastercard banks up fees across their entire card lineup?
If they’re truly too big to give up no matter the fees they charge, they’re leaving money on the table.
Of course, they can’t. If Chase started handing college students a 3% card, the merchants would riot.
From what I understand, the card-issuing banks get a cut of the merchant fees, but they're required to provide premium benefits like lounge access.