Credit card late fees hit consumers hard. But Visa and MasterCard also punch
their users in the gut with an even bigger cost—the interchange fee. And what's ...
It’s the credit card sucker punch consumers never see coming. Interchange is the biggest credit card fee you’ve never heard of...and it’s outrageous. Credit card late fees hit consumers hard. But Visa and MasterCard also punch their users in the gut with an even bigger cost—the interchange fee. And what’s more, they don’t want consumers to know about it. Visa and MasterCard wrote the rules that make it virtually impossible to tell consumers how much interchange fees cost them—and it’s time for that to change. Just as with ATM fees, consumers have a right to know what their credit cards are costing them. Transparency and competition are good for consumers. Without them, Visa and MasterCard can fix these fees in secret and we all end up paying the credit card companies more and more and more. The Senate Judiciary Committee will hold a hearing called, “Credit Card Interchange Rates: Antitrust Concerns?” When credit card companies are forced to explain their fees, practices and policies in public, consumers win.
Contact the Merchants Payments Coalition at (703) 741-7051 or visit www.UnfairCreditCardFees.com Paid for by the Merchants Payments Coalition (MPC), an organization fighting for a more competitive and transparent credit card fee system that better serves American consumers and retailers alike. The MPC represents the nation’s gas stations, retailers, restaurants, department stores, supermarkets, drug stores, convenience stores and online merchants—more than 2.7 million stores and approximately 50 million employees.
