Maximize relief dollars, remove transaction fees
It has been done before: credit card companies temporarily
suspending transaction fees to maximize the dollar amount of donations going to
help disaster relief and recovery efforts.
Given the catastrophic proportion and immediacy of
When disaster occurs and private donations abound, credit
card companies reign in a considerable amount of money through transaction
fees. Companies such as Visa, which has
come under fire for its high transaction fees, make about three cents of every
dollar donated. Visa and other companies
will likely rake in millions of dollars of profit as a result of the donations
made via credit card for the Haitian relief efforts.
Instead of eagerly watching their bottom lines swell, credit
card companies should cease this opportunity for humble leadership and partial redemption. While the existence and convenience of their
processing infrastructure is certainly valuable and has an associated nominal
cost, the need for every penny of relief is most important.
Join me in demanding that credit card companies suspend
their transaction fees to maximize relief efforts in
For more information about how much credit card companies will profit, read an article released today in the Huffington Post.
Greetings! I’m Kevin D. Johnson, a business owner who has recently assumed the role of consumer advocate and internet activist. Atlanta, Georgia is my home.
Upon returning from my wonderful honeymoon in Jamaica in October 2008, I received what I thought was an ordinary American Express bill, but to my surprise it was a disappointing letter informing me that my credit line was reduced by about 65% for a highly suspicious and discriminatory reason. Considering my excellent credit score and pristine payment history, it just didn’t make sense. However, what does make sense are the unfair and insidious policies that I have uncovered when asking why. It is time to change them.
I created this web site to document and share my challenging journey to change what is wrong, unfair, and unjust in the credit card industry. The ultimate goal of this web site is to inform consumers of ways to stand up for themselves against treacherous business practices and to educate consumers about how to improve their credit. Finally, I hope to encourage a more open dialogue with credit card companies about their policies–good and bad.
I am proud to say that this blog's unyielding demand for change led to an important 
kev, what can we do to help? do we just call the companies and request that they remove the fees? is there a petition of some sort? let us know.
Posted by: Jason Allen | January 15, 2010 at 07:35 AM
Well put. I agree.
Posted by: JTK | January 14, 2010 at 07:56 PM