If you want to pay then please go nuts, it’s your money
But banks are already charging merchants for their services and it’s more than enough.. annual fees are to stiff people who don’t know any better
Debit card fee you also pay, you serious lol
You are right.
If banks are charging merchants well enough, then that could cover the CC fees on the card user's side isn't it?
But what if the user doesn't spend enough for the banks to earn enough from the merchant fees? For eg, I spend only $500 to $1000 a month on my UOB card, then UOB earns 3% from the merchants. That's only a mere $15 to $30 a month
If the bank don't earn enough fees with a targeted average amount per user, then it's their prerogative to decline a request for CC fees waiver what. That amount they have in mind would certainly be different from what we users have I mind.
I feel $500 per month ($6000 a year) spent is enough to warrant a fee waiver, but bank may have a different amount, maybe $1500 or a certain percentage of my salary declared
Debit cards have requirements too. Like a number of transactions per year for UOB and a certain amount spent for OCBC.
The only card without fees, if I recall, is only ATM cards but that's boomer dial-up era.