Saturday, May 22, 2010

More Beer For Our Money?


Scenario:
You want to pay cash for your pint but your credit card company is offering a rewards program every time you use it. You only want a pint of beer but the bartender tells you that there is a “minimum purchase” to use the card. So you order a pint and whatever. You swipe your card have to pay a transaction fee of $1.00.

Recently, the Senate agreed to an amendment which would limit usage fees (the $1.00 charge), make it unlawful for merchandisers to enforce a minimum purchase to use the card ($5.00), and reduce the reward programs featured by credit card banks to encourage the usage of cash.

In an economy which does not seem to foster the American tradition of beer it looks as if there is a silver lining somewhere.
Copy and paste the url for the full story.

http://redtape.msnbc.com/2010/05/pittsburgh----you-probably-swipe-a-credit-or-debit-card-through-a-magnetic-stripe-reader-dozens-of-times-each-month-its-a-s.html#posts

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