Industry committee  I would like to jump in on that one. Much like Mr. Kitchen said, we offer low-rate cards as well, including as low as single-digit interest rates. Choice is a big issue that the consumers want. Issuers provide anything from single-digit cards up to 19.5%. We've had low-rate car

Finance committee  I would like to jump in on that one. Much like Mr. Kitchen said, we offer low-rate cards as well, including as low as single-digit interest rates. Choice is a big issue that the consumers want. Issuers provide anything from single-digit cards up to 19.5%. We've had low-rate car

Industry committee  There were rigorous criteria. The network set the criteria for the niche amount of customers who could qualify. As Terry said, in general, it's less than 10% of customers. These represent the merchant's highest customers. They spend with a higher velocity. They spend at a higher

Finance committee  There were rigorous criteria. The network set the criteria for the niche amount of customers who could qualify. As Terry said, in general, it's less than 10% of customers. These represent the merchant's highest customers. They spend with a higher velocity. They spend at a higher

Industry committee  It's one-fifth of 1%. Twenty basis points is the differential.

Industry committee  On a blended basis—and it depends for every issuer, because it depends on the consumer behaviour of where they shop—it's about 1.5% or 1.6%.

Industry committee  No, I'm sorry. That would make it 1.7% to 1.8%, not 200 basis points.

Industry committee  It's 20 basis points on 1.6%.

Industry committee  You're right. It's about 12%.

Industry committee  No, that's not correct.

Industry committee  That is not the only cost factor. You're looking at just the interchange factor.

Industry committee  I agree with you. I'm still on the revenue side as well. We increased our features and our cost and our benefits to our cardholder. Our success depends on attracting and retaining our cardholders by giving them the most competitive offers, and we increased features and benefits o

Industry committee  Those cost us.

Industry committee  I agree with that.

Finance committee  It's one-fifth of 1%. Twenty basis points is the differential.