Question

What rate of commission is charged by the bank issuing the credit card?

• A. 1% to 3%
• B. 3% to 6%
• C. 2% to 5%
• D. 1% to 4%

Answer 1

Answer: (D)

1% to 4%

The bank issuing the credit card charges a commission from anywhere between 1% to 4% for each such transaction. The commission charged is immediately debited to the seller's bank account.