Ever wonder who pays for all that
credit card junk mail?
To learn more, please visit www.UnfairCreditCardFees.com
or contact the Merchants Payments Coalition at (202) 955-1400.
It comes from your credit card interchange fees.
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 retailers, restaurants, department stores, supermarkets, gas stations, drug stores, convenience stores and online merchants—more than 2.7 million stores and approximately 50 million employees.
We’re not turning a mountain into a molehill; it’s already a mountain—of unwanted mail
solicitations coming at you directly from the credit card companies. And the fees they
charge you pay for all that unwanted junk.
Even when you consider all the other fees credit card issuers charge, interchange is
probably the worst—and that’s saying something. For example:
MasterCard and Visa don’t want you to know about credit card interchange fees —
these fees are set in secret and each of them makes it practically impossible to tell you
what interchange fees cost.
Last year, Americans paid over $36 billion in interchange fees, about twice what credit
card issuers collected in late charges.
Interchange fees are reflected in the price of nearly everything you buy—in fact, as
much as $2 of every $100 you spend goes to card issuers—no wonder interchange has
risen a staggering 117% since 2001.
According to a recent study, only 13% of interchange fees actually go to paying for
processing card transactions—the rest goes to things like advertising and all that junk
mail you get.
Fortunately, the House Judiciary Antitrust Task Force has scheduled a hearing concerning
credit card interchange fees. You have a right to know what your credit cards are costing
you. And when the credit card companies are forced to explain their fees, policies, and
practices in publi