Frequent Contributor
Posts: 364
Registered: ‎08-23-2011
Re: Merchants may be allowed to charge extra for credit cards

Well looks like the merchants true colors are showing. I don't mean the mom and pop places I mean big retail like Wal Mart and Home Depot that were the driving force behind all this.


The whole argument that brought on the Durbin amendment that swipe fees are too expensive and if they were lowered the merchants would pass the savings on to the customer. Well that was a load of baloney and this proves it.


Merchants don't want to offer a cash discount, even though it is perfectly legal to do so to reward people who use a cheaper method of payment. Instead they want to keep charging the same, and charge credit card customers extra. Of course the consumer loses out in all this. Banks are looking to recover costs lost from the durbin amendment by charging more fees or increasing current ones, the merchants are looking to nickle and dime their customers too.


So what sort of fee will the merchants look to next? How about charge for parking? After all the cost to maintain the parking lot is built into the price of goods that everyone pays. So people who take public transportation are subsidizing people who drive their own vehicle. Same argument as cash vs credit.


This is just aggrivating because instead of now where I just walk into a store and do my shopping, after this every time I go into a store for the first time I will have to ask if they charge extra for credit card payments. Even if I am paying with cash, I will walk out on principle.

FICO Scores: TU: 768 (Jan 2012), EQ: 755 (Jan 2012 Lender pull)