Professor of entrepreneurship Mark T. Schenkel was featured as an expert in a Wallethub article discussing the best Capital One credit cards of 2019. Schenkel discussed strategies employed by Capital One and the value of double miles versus 2% return.
“Capital One’s choice not to charge foreign transaction fees is simply a strategic one. All banks, including Capital One, incur a 1% charge by the credit card network (i.e., MasterCard, Visa, etc.) on all transactions,” said Schenkel. “While many banks opt to pass this charge along to cardholders, sometimes adding on a 2-3% charge on top, Capital One is opting instead to absorb this fee to make its case for offering greater value to cardholders over its competitors.”
Schenkel developed his entrepreneurial experience by serving in a variety of general management roles in small, closely held, family firms, including: The Habegger Corporation, David E. Estes Engineering, Inc., The Hennegan Company and Wright Brothers Inc. In those environments, he was charged with developing and implementing strategies for achieving business growth and profitability objectives. He has continued his efforts to foster entrepreneurship through direct consulting and advising and by serving on the boards of local ventures in the Nashville area.