Comments on: Credit Card Fair Fee Act of 2009 http://www.consumerismcommentary.com/credit-card-fair-fee-act-of-2009/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Thu, 31 May 2012 23:50:27 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Anonymous http://www.consumerismcommentary.com/credit-card-fair-fee-act-of-2009/comment-page-1/#comment-195524 Anonymous Sat, 04 Jul 2009 01:22:24 +0000 http://www.consumerismcommentary.com/?p=7042#comment-195524 Passing the cost of credit card fees to consumers is nothing new in businesses. If you are buying big items and want a discount, tell the merchant you're paying by cash and ask for discount. You may get it. And if you are going for carnival sales for IT products, the merchant will tell you upfront they are charging extra fees for the credit card usage. Illegal? Yes. But the merchant can't afford to add cost to their low margin item. Who to blame? Not sure. But the consumers are willing to pay for the convenience. Carrying cash in bulk is too risky nowadays. Blame the society perhaps for creating a non-safe environment for cash transaction. Laws and rules will only complicated matter futher. Just look at the recent credit card act. The bank has responded by jacking up the interest rate before it is implemented. The loser is consumer with good credit and behavior. So why should good citizens paid for the sins of a few bad apples who do not take responsibility of their own behavior? Passing the cost of credit card fees to consumers is nothing new in businesses.

If you are buying big items and want a discount, tell the merchant you’re paying by cash and ask for discount. You may get it.

And if you are going for carnival sales for IT products, the merchant will tell you upfront they are charging extra fees for the credit card usage. Illegal? Yes. But the merchant can’t afford to add cost to their low margin item.

Who to blame? Not sure.

But the consumers are willing to pay for the convenience. Carrying cash in bulk is too risky nowadays. Blame the society perhaps for creating a non-safe environment for cash transaction.

Laws and rules will only complicated matter futher. Just look at the recent credit card act. The bank has responded by jacking up the interest rate before it is implemented. The loser is consumer with good credit and behavior. So why should good citizens paid for the sins of a few bad apples who do not take responsibility of their own behavior?

]]> By: Susan http://www.consumerismcommentary.com/credit-card-fair-fee-act-of-2009/comment-page-1/#comment-195516 Susan Fri, 03 Jul 2009 18:40:35 +0000 http://www.consumerismcommentary.com/?p=7042#comment-195516 Please. The businesses are full of it. The only result of this getting passed (which hopefully it won't) is that the businesses will pocket the savings, and the credit card rewards programs will get cut. That's what happened when Australia decided to do the same thing. What makes anyone think the U.S. will be any different? Please. The businesses are full of it. The only result of this getting passed (which hopefully it won’t) is that the businesses will pocket the savings, and the credit card rewards programs will get cut. That’s what happened when Australia decided to do the same thing. What makes anyone think the U.S. will be any different?

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