"Consumer Impact: Visa-Mastercard Settlement Raises Premium Credit Card Costs"

A $30 billion settlement between merchants and credit card giants Visa and Mastercard could lead to higher swipe fees for premium credit card holders, such as those with Visa Infinite and Chase Sapphire Reserve, as revealed in rate tables. The settlement allows merchants to charge consumers more for using elite cards, but some may choose not to for fear of backlash. Visa and Mastercard will reduce swipe rates and cap rates for several years, while also allowing merchants more discretion to offer discounts or impose surcharges on cards with higher interchange fees.