(06-12-2019 06:38 PM)OldTtimeNIU Wrote:  

(06-12-2019 11:40 AM)Big Red Wrote:  

(06-12-2019 11:05 AM)7 Wrote:  

(06-11-2019 08:29 PM)NIU75 Wrote:  

(06-11-2019 04:42 PM)NIUSAE Wrote:  They/re recouping the CC company charges.

Sounds like Las Vegas. The Concession and Franchise Fee on the Strip is a new deplorable charge at restaurant and bar venues to ding customers for more money also known as the CNF. The CNF charge gouges customers 4.7% on every check. Most customers don't even know about the charge until they get their bill. Bottom line, you are paying 4.7% to sit in a restaurant.

It’s similar but not totally the same. Pretty much CC companies charge processing fees to pay for their rewards. Historically, those fees are paid by the merchant. They passed a law in the last year or so saying the merchant can now pass those fees onto the customer.

While I have issues with a company who is charging 19% interest on credit cards to also feel the need to have a charge just for an electronic transmission. And for it to be a percentage of the overall bill? That's ridiculous. It doesn't cost them more to charge $1,000 vs $5. IF there is to be an additional charge, and that's a huge IF, the charge needs to be a flat rate (and have a limit imposed by regulators) and not some percentage that gets more people rich who literally didn't do anything and punishes people who are spending money and putting money in to circulation.

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My advice is don't keep a balance on credit cards. They are one step below loan sharks.