Re: Merchants may be allowed to charge extra for credit cards[ Edited ]
07-13-2012 08:09 PM - edited 07-13-2012 08:10 PM
Get over it folks. Many people have fallen for 'free lunch' concept of life when it doesn't exist. The entire credit system has a cost along the way with profit to be made at specific points. So far the card holder has been led to believe not only is it FREE for them but they will actually make money by using their card. Those days are coming to an end. You'll have to pay to play or use cash. That's life.
I already talked about it but,
Swipe fee is already included in existing price. When a product is being priced, seller will factor in swipe fee. So why in the world would these merchants demand charging additional surcharge?
If anything, these merchants should lower existing price when cash and/or check is used for payment AS OPPOSED to the use of plastic. It makes no sense to charge surcharge on top of a price that already takes care of swipe fee. This entire lawsuit is not about recouping swipe fee, but an excuse to earn additional revenue.
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)