Difference between revisions of "Credit Cards"
From Critiques Of Libertarianism
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| − | {{DES | des = Credit cards assess a hidden tax called the [[Interchange Fee]]. It is the money withheld from the merchant by banks and credit card companies to pay for the privilege of using a credit card in the transaction. This tax also frequently falls on cash customers, because credit card contracts with merchants generally provide that merchants cannot reveal the tax with a surcharge for using a credit card. Merchants can offer cash discounts, but most do not, charging the same prices, and so cash customers subsidize credit card fees. This is VERY big business. | show=}} | + | [[Category:Monopoly, Oligopoly, Market Power and AntiTrust]] |
| + | {{DES | des = Credit cards assess a hidden tax called the [[Interchange Fee]]. It is the money withheld from the merchant by banks and credit card companies to pay for the privilege of using a credit card in the transaction. This tax also frequently falls on cash customers, because credit card contracts with merchants generally provide that merchants cannot reveal the tax with a surcharge for using a credit card. Merchants can offer cash discounts, but most do not, charging the same prices, and so cash customers subsidize credit card fees. This is VERY big business, due to [[Monopoly, Oligopoly, Market Power and AntiTrust|oligopoly]] in the industry. | show=}} | ||
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