True-cost takes into account ALL fees collectively instead on just one tier or card type. This is the best way to review your costs and overall rates. Here is the formula:
Total Fees From Your Checking Account / Total Charges for Visa MasterCard Discover X 100 = True-Cost Percentage
Total Fees are sometimes tricky to find on statements so you should instead refer to the amount of money that came out of your checking account. Total Charges should NOT include any American Express volume if you are currently getting a separate American Express statement.
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