The Credit Card Competition Act would cut down on credit card swipe fees for consumers and has the backing of President Trump.

Visa and Mastercard announced a new proposal with U.S. merchants in a 20-year-long legal battle over interchange, or swipe, fees. The proposal includes a temporary reduction in swipe fees and could loosen the "honor all cards" rule, potentially allowing ...

Durbin said Visa and Mastercard control about 85 percent of the credit card market. They don't negotiate and businesses have no recourse. The senator said the average American family pays nearly $1,200 per year in swipe fees, while banks profit $111.2 billion annually from credit card swipe fees charged by Visa and Mastercard.

If you carry a balance on your credit card, a quick way to pay it off could be by transferring the balance to a credit card with a great balance transfer offer. Here are the best available.