standard cash back rate

They Locked The Standard Credit Card Rate In 2009

The 2009 CARD Act locked the standard credit-card cash-back rate at roughly 2% by capping interchange fees, and banks have used that ceiling as a blueprint ever since. The law created a mathematical ceiling that still defines the baseline for most rewards programs today. In 2024, Cash App processed $283

Experts Warn 2% Cash‑Back Credit Cards Often Pay 1.5%

The advertised 2% cash-back rate is rarely what you receive; most cards effectively return about 1.5% after fees and caps. The industry standard cash-back rate sits at 1.5%, even though many issuers market a 2% headline. Understanding the Standard Cash-Back Rate Reality When I first examined the fine