Audio: Hidden Fees on Credit Cards

Each time you pay with plastic, the bank gets a 2 percent fee.

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Over the weekend, I spoke with WTOP in Washington about the hidden credit card fees we all pay each time we buy anything with a credit card. The merchant pays 2 percent of the purchase price to the bank that issues the card. (The fee is known as the "interchange fee.") Merchants are now lobbying Congress to limit those fees, which they say cut into their own bottom lines.

Hidden Fees on Credit Cards

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