What is the percentage of charges by a Credit Card?
The percentage of charges by a Credit Card
Most of the cards charges from 1.4% to 3% depending on the benefits of that card. Debit cards which is normally used for ATM withdrawals, has minimum features while using at outlets. So the finance charge also is less. Normally it is 1.4%. Some cards has only 1%. There is also a small transaction charges that is very much less compared to the finance charge. Credit Cards with multiple free offers, charges upto 3% for transactions. For Example, for a $100 dollar bill paid to a vendor through a debit card, he will be getting $98.50 after 1.4% finance charge or exchange charge plus 10 Cents for that typical transaction. Where as for a feature filled credit card, the same vendor will be getting $ 96.90 after exchange rate and transaction fee of $0.10.
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