Reply #6: The credit card companies [View All]

[EmmitFitzhume]

are loving and promoting this trend as they get paid every time we use plastic to buy anything. I'm sure everyone has seen the Visa commercial where one guy uses cash instead of a Visa check/credit card and supposedly ruins the smooth flow in the cafeteria line. You have got to love those credit card companies. God forbid someone uses cash so they don't get their cut in the form of interchange fees. ($30.7 billion worth in 2005 and the largest fee there is). The ironic part is that even is you pay with cash you are still bearing the cost since interchange fees cause the price of all goods to be higher.

I have actually been working with http://www.unfaircreditcardfees.com/ on this issue. I would recommend checking out the site for some amazing statistics on how we are being fleeced by Visa and MasterCard. I'm all for companies making a profit for a service, but we passed that point long ago and now they are just raising the rates on everyone to fund rewards cards for the wealthy.