The 2% Fee Behind the American Travel Boom
The U.S. travel economy relies on credit card interchange fees, which are uncapped in the U.S., supporting airline and hotel loyalty programs. Delta earned $8.2 billion from Amex in 2025, and American received $6.2 billion. However, regulatory risks exist, such as the Credit Card Competition Act and Visa/Mastercard settlement. Research shows rewards are subsidized by lower-income consumers.
Impact and considerations
For business travel, loyalty programs funded by interchange fees affect corporate travel costs. Regulatory changes could alter rewards structures, impacting travel management.
Key points
- U.S. interchange fees uncapped, supporting loyalty programs
- Delta earned $8.2B from Amex in 2025
- American received $6.2B
- Regulatory risks include Credit Card Competition Act
Sources and time
- Primary source
- Skift
- Other sources
- 0
- First source publication
- 19 Aug 2026, 21:30
- Page published
- 20 Aug 2026, 00:08
- Last updated
- 19 Aug 2026, 21:30
- Original links
- Skift Feed：The 2% Fee Behind the American Travel Boom (opens in a new tab)Primary source · en · Published 19 Aug 2026, 21:30