![credit cards](/sites/default/files/2022-08/pexels-pixabay-259200%20%281%29.jpg)
Best secured credit cards
How does a secured credit card with no annual fee make the issuer money? An ASU finance expert answers.
In this article published Aug. 3, 2022, on WalletHub:
Vendors accepting credit card payments must pay processing fees to the issuer. These processing fees typically range from 1.5 to 3.5% of the transaction amount. This is why you will oftentimes see gas stations charging different prices if you pay with cash (or with a debit card) versus if you pay with a credit card. When a customer pays with a credit card, the vendor must pay the payment processing fee, which is a source of revenue for the issuer.
– Geoffrey Smith, clinical professor of finance
Latest news
- W. P. Carey MBA helped Air Force pilot Mike Shufeldt reach entrepreneurial dreams
Mike Shufeldt (MBA '23) knew that a Full-time MBA degree from ASU’s W. P. Carey School…
- Healthcare GPOs rebrand
An ASU supply chain management expert says group purchasing organizations (GPOs) in healthcare…
- Why Amazon stock is the biggest bargain after Amazon Prime Day
According to an ASU finance expert, Amazon is one of the most successful stocks in the world.