Fight Unfair Credit Card Fees
The credit card interchange fee is the biggest credit card fee you've never heard of. Nearly $2 of every $100 American consumers spend using credit cards go directly to the credit card industry through the interchange fee.
In 2007 alone, America consumers paid over $42 billion in credit card interchange fees. Even consumers who don't use plastic pay more through higher prices.
And the credit card interchange fee is set in secret - consumers don't know they're paying it through higher retail prices. Interchange fees have risen a staggering 133% since 2001.
A rare bi-partisan consensus has emerged: HR 5546/S 3086, The Credit Card Fair Fee Act which stops the price-fixing by the credit card industry and uses a transparent market-based process.
New On UnfairCreditCardFees.com
Gas stations hit hard, too, by high prices
9-Jul-2008 Orangeburg Times Democrat
High pump prices hurt stations, too
9-Jul-2008 The Detroit News
Credit card fees eat up gas station profits
8-Jul-2008 USA Today
Gas Stations Hit Skids
7-Jul-2008 Wall Street Journal (subscription only)
Plastic makes sure you pay more at the pump
6-Jul-2008 Tulsa World
Gas Stations Overwhelmed by Credit Charges
2-Jul-2008 ABC 7
Replace this content with your own...
Gas Prices Highlight Credit Tiff
2-Jul-2008 Miami Herald
Replace this content with your own...
Part of the Pain In the Cost of Gas
6-Jun-2008 Washington Post
Merchants Welcome Senate Legislation to Fix the Problem of Hidden Credit Card Interchange Fees
5-Jun-2008 Sun Herald
Durbin Adds Senate Bill to House Effort to Rein in Interchange
5-Jun-2008 Digital Transactions
US bill would help retailers negotiate card fees
5-Jun-2008 Forbes
Old foes unite to keep charging credit card fees to merchants, by Jessica Holzer
12-May-2008 The Hill
Replace this content with your own...
Old foes unite to keep charging credit card fees to merchants
12-May-2008 The Hill
Retailers shopping for lower interchange fees
29-Apr-2008 The Politico
Retailers, Credit Card Companies Battle Over ‘Biggest Credit Card’
11-Apr-2008 Associated Press
The Credit Card Fee Market Isn’t Working
8-Apr-2008 Wall Street Journal (subscription only)
Letter to the Editor: Interchange Fix Needed
28-Mar-2008 American Banker (subscription only)
Brussels tells mastercard to cut cross-border fees or face fines
20-Dec-2007 Financial Times, UK
The credit card company was told by the European Commission it was in breach of competition rules by charging excessively high interchange fees which ...
MasterCard Fears a Trend in Europe’s Fee Decision (subscription only)
20-Dec-2007 American Banker
A European regulatory agency's ruling that would restrict MasterCard Inc.'s ability to impose interchange fees there could serve as a model for other authorities if not challenged, according to the credit card company and industry observers.
MasterCard Must Scrap Fee on Card Payments, EU Says
19-Dec-2007 Bloomberg
Payment cards' interchange fees -- paid between banks on each card transaction -- cost consumers as much as 13.5 billion euros ($19.4 billion) a year.
No Fees, Please, We’re European
19-Dec-2007 Forbes, NY
The fees, known as multilateral interchange fees are charged by the bank of a cardholder to the bank of a retailer, but are ultimately born by the shops.
EU to give mastercard months to change fee-source
19-Dec-2007 Reuters
Mastercard will be told they have to cease and desist from applying the current interchange fees and if they don't do it within six months they will start.