This Black Friday, don’t let ‘Swipeflation’ swipe $1,400 of your holiday cash
Fox News
Credit card swipe fees cost households $1,400 yearly, documents show, with 2024 hitting record $187 billion as Black Friday shoppers face hidden charges.
Karen Harned is a small business advocate and former executive director of the National Federation of Independent Business Small Business Legal Center. For more information on credit card swipe fees and how you can avoid them, visit her website at swipeflation.com.
In 2024, these swipe fees added a record $187 billion total, or about $1,400 in extra costs for every household. Swipeflation is real. That helps explain why more stores now add credit card fees or offer discounts for paying with cash. A recent WalletHub survey found that 80% of consumers reported paying a surcharge on a credit card purchase in the past year.
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