Would you pay to use your credit card?
News from The Durango Herald:

Processing fees for debit- and credit-card transactions have long been a bane for merchants. But businesses know it�s an unavoidable cost to keep customers coming back.

�If you don�t (accept cards), you�re pretty much dead in the water, said Jeff Bardin, owner of Top That Frozen Yogurt, a shop on Main Avenue.

After a seven-year legal battle, a settlement last month attempted to provide some remedy for merchants nationwide suffocating under swipe fees, or interchange fees.

The $ 7.25 billion settlement came after plaintiffs sued Visa and Mastercard, accusing the companies of fixing swipe fees arbitrarily high. Under the settlement, Visa and Mastercard agreed to temporarily reduce swipe fees and allow merchants to surcharge customers an amount equal to those fees.

But in the wake of the settlement, several large retailers have come out against the settlement and local businesses said they would be hesitant to take advantage of a new ability to pass credit-card transaction fees on to the customer.

�The burden of cost goes back to customers. Right now, it�s part of the cost of doing business,� said Ivan Unkovsk…………… continues on The Durango Herald

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Related News:

My secret credit card shame: I haven’t told anyone because they think I’m good …
News from Mirror.co.uk:

Even though I know I’m starting to get into trouble, I can’t stop spending

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Dear Coleen,

For years I never owned a credit card, believing you shouldn’t spend money that you don’t have.

But then I had to get one recently because I was going abroad and it made things a lot simpler when it came to paying for things.

Since then I’ve found myself using it more and more, so much so that I’m almost at my limit.

Even though I know I’m starting to get into trouble, I can’t stop spending.

When I see something I want, I just have to buy it.

I haven’t told my partner or my friends because I know they’d be really shocked, everyone thinks I’m so good with money.

So I’ve taken to hiding my purchases and passing them off as old things, or bargains from eBay.

Now my partner wants us to go on holiday, but I can’t afford to.

I feel ashamed and don’t know how to tell him I won’t be able to go away with him.

I feel bad as he’s been working hard recently, we haven’t seen much of each other and he deserves a break.

Coleen says..

Well, that’s the reason I’ve never had a credit card – I’d use it l…………… continues on Mirror.co.uk

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