Originally Posted by
LondonAndy
I believe that it's all down to the Interchange Fee (the amount charged to the retailer) reducing - they have to make their money somehow.
If anyone doesn't like the rate, switch to one without any benefits which will (probably) have a lower rate.
There was a big thing about Capital One slashing or cutting back on the benefits it gives its cardholders very recently directly attributable to the Interchange ruling that the EU brought down.
Not sure if you switching to a card without benefits will necessarily give you a lower rate as Card Cos can set the rate as they see fit based on your credit score etc. Saying that the difference in some Amex card rates, it may be beneficial to do so!