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Released: November 05, 2012
Credit card comparison sites reflect referral fees
Source: Herb Weisbaum, NBC News
The Internet makes it quick and easy to compare credit card offers. Dozens of sites now offer this free service. They make money if you click through and apply for a card. “There’s nothing wrong with companies earning referral fees,” said Ruth Susswein with the advocacy group Consumer Action, “but users need to know what the financial relationship is between the company that makes the recommendation and the company that may get your business.” Consumer Action recently surveyed 54 credit card comparison websites. Most of them disclose this commission structure somewhere on the site – usually in the privacy policy or “about us” sections – but you may have to hunt around to find it.Read Full Article: Credit card comparison sites reflect referral fees
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