Credit card fees could soon change: What to know
Visa and Mastercard are close to settling a long-running dispute with merchants over those "swipe" fees you pay when using credit cards.
If the deal goes through, these fees would drop slightly over several years, and stores could get more say in which cards they accept—especially those high-fee rewards cards.
The agreement still needs a judge's sign-off before anything changes.
What's the bottom line?
If approved, the settlement would trim interchange fees (usually 2-2.5%) by a small amount, possibly making things a bit easier for businesses.
Merchants might start turning down certain pricey rewards cards, so you could notice some changes at checkout.
Meanwhile, some big retailers are still suing Visa and Mastercard for even bigger changes—so this story isn't quite over yet.