When one includes credit card transaction fees, membership fees, and late charges/interest, how much does the average credit card cost? Has anyone calculated this number, or is it another unknowable fact of the finance industry?
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In other areas of human endeavor we seem able to collect, analyze, and disseminate data in reasonable ways that illuminate the cost/benefit ratio of the service being offered. In the credit industry, the answer seems to be (a) data not available, (b) well it’s complicated so
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Credit cards are a critical feature of modern electronic commerce. There should be piles of data outlining the cost of this service, perhaps broken up by consumer segment, but still useful and available. Where is it?
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