Shoppers love rewards credit cards. Retailers hate them | Credit card reward programs | Discussion forum

From The Star -

Consumers have become addicted to credit cards with generous rewards programs. Retailers are trying to cut them off.

Large merchants including Amazon.com Inc., Target Corp. and Home Depot Inc. are pushing for the right to reject some rewards credit cards, which typically carry higher fees for merchants. They are likely to opt out of a roughly $6.2 billion settlement Visa Inc., Mastercard Inc. and several large banks recently reached with merchants and continue to make their case in court, according to people familiar with the matter.

The retailers are trying to end the card networks’ “honor all cards” rule, which requires merchants that accept Visa- or Mastercard-branded credit cards to take all of them. If merchants could pick and choose among Visa or Mastercard credit cards, those with the highest merchant fees—and most generous rewards—likely would be on the chopping block.

https://www.thestar.com/wsj/2018/09/25/shoppers-love-rewards-credit-cards-retailers-hate-them.html