The credit card brands (i.e. Visa, MasterCard, Discover and American Express) increase interchange and brand fees in April every year.
Last year the major card brands decided, amid the COVID-19 pandemic, to postpone changes to interchange and brand fees until April 2021. As a result, the slated increases for April 2021 were quite extensive.
In an effort to support merchants, the card brands have chosen to limit the changes to interchange and brand fees that were scheduled to increase in April 2021.
Even though the card brands have chosen to postpone increases, credit card processors are still using this opportunity to increase fees.
Audit Advantage has identified warnings of avoidable price increases on hundreds of merchant statements. Please review the notes/comments section of your credit card statement to identify these increases. If you have any questions about the legitimacy of these fee increases, Audit Advantage can help.
If you’d like to avoid these fee increases, make sure you are enrolled in Audit Advantage REDUCE or MONITOR.
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