Many mom & pop businesses are losing sales because their price schedules can not support credit card handling expenses. They would accept plastic and profit if the card companies would permit passing those expenses directly onto customers who pay with plastic.
All purchasers not paying with plastic are paying for credit card expenses baked into price schedules. If plastic handling were an additional expense to the purchaser, many, (possibly most) purchasers would prefer to pay by cash or check. All purchaers now pay venders' addional credit card expenses.
The credit card companies are effectively, (if not actually) enacting the illegal practice known as bundling the expense to their clients and thus to their client's retail customers.
Purchasers who actually prefer to pay by credit card are actually being under-billed. Rather than directly billing only those purchasers for the additional service that demand, it is treated as an overhead expense spread among all of the purchasers. This effectively raises the prices of most goods and services sold in the USA.
I advocate state governments recognize and prohibit what is a restraint of trade and exercise their jurisdictional power. Financial institutions speak of plastic purchasing bolstering effect upon our economy but seldom mention the social and economic harm due to this too often unnecessary and less preferred personal debt.
The regulation of financial corporate practices is among the very few areas where its both feasible and legal for states to improve their own economy. The failures of state governments to properly do so are generally due to their' indifference, incompetence and general corruption.
I regret that states failed to create their own credit card users bill of rights. All who could exercise an option to pay less are paying more in order to maximize the profits of credit card issuers.
Respectfully, Supposn
All purchasers not paying with plastic are paying for credit card expenses baked into price schedules. If plastic handling were an additional expense to the purchaser, many, (possibly most) purchasers would prefer to pay by cash or check. All purchaers now pay venders' addional credit card expenses.
The credit card companies are effectively, (if not actually) enacting the illegal practice known as bundling the expense to their clients and thus to their client's retail customers.
Purchasers who actually prefer to pay by credit card are actually being under-billed. Rather than directly billing only those purchasers for the additional service that demand, it is treated as an overhead expense spread among all of the purchasers. This effectively raises the prices of most goods and services sold in the USA.
I advocate state governments recognize and prohibit what is a restraint of trade and exercise their jurisdictional power. Financial institutions speak of plastic purchasing bolstering effect upon our economy but seldom mention the social and economic harm due to this too often unnecessary and less preferred personal debt.
The regulation of financial corporate practices is among the very few areas where its both feasible and legal for states to improve their own economy. The failures of state governments to properly do so are generally due to their' indifference, incompetence and general corruption.
I regret that states failed to create their own credit card users bill of rights. All who could exercise an option to pay less are paying more in order to maximize the profits of credit card issuers.
Respectfully, Supposn
