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Credit Card Charges


I am not referring to interest.

The interest rate charged on credit card debt is disgusting and always has been. The only time I was charged that interest was when a mistake was made and I misunderstood the crediting method used by the banks when payment was made. That was over 40 years ago and I have never repeated the process.

What I am complaining about and therefore avoid like the plague, is the "service" charge made by a business to their customer for paying their bill with a credit card.

Yes, it does cost the business money, the amount of that charge negotiable with the bank, but what do they get in return?

  1. Instant cash

  2. Certainty of payment

  3. Reduced staff work in collecting, counting and banking money

  4. No dud cheques, although cheques themselves are rapidly going out of fashion

The number of businesses with signs reading “No Amex or Diners Cards Accepted” are sending a message – totally ignored by Amex and Diners Club to date – that the pioneers of credit cards are still charging their customers too much in the market. People are probably only using them for those lovely reward points.