Sunday, June 26, 2016

Who's swiping from who when you swipe your credit card?

American consumers swiped their credit cards 25.4 billion times in 2012, buying over $2.4 trillion worth of groceries, gas and tv sets. The credit card companies and the banks charged on average $1.62 on each swipe producing billions in revenue. Where’s does that money really go? and how is it affecting our economy? Tom Herriman reports on the hidden costs of paying with plastic.