Buffalo Boy's Blog

This story is an example of how credit card companies screw everyone, from the consumer to the person selling the merchandise. I knew that credit card companies charged retailers a small fee for having credit card terminals available, however, I did not know that it is a 2% fee. So, gas stations with their small margin of profit on gas, lose money the higher the price of gas goes due to those credit card fees that eat into their profit margin.

The credit card companies don't kill us enough on interest rates, hidden fees, late fees and all sorts of other excuses to charge us extra, they have to charge the retail outlets more?

That is the other industry that needs to be monitored more closely after the government cracks down on big oil. Credit companies screw millions of Americans and young college students every year, offering cards with limits people never will be able to repay based on the interest rate.

Just remember the next time you fill up at the pump though, pay in cash it will help not only your credit, not to pile more debt on your credit card, but it will also help the small business/gas station owner who is making little or nothing on your fill up. As much as we bitch about the price of gas, its not the station owners fault, they are stuck in the middle of the bitching consumer and the oil company, and now credit fees.