Credit Card Companies are Filling Up at the Station

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010900-credit-card-companies-are-filling-up-at-t/

By Margaret Webb Pressler, Washington Post

As the price of gasoline rides the storm tides of two hurricanes, one group is crying all the way to the bank.

Major credit card companies are reaping huge profits from rising gas prices because the fee that banks charge gas stations to process a credit card transaction is based on a percentage of the purchase price. As gas prices go up, the processing fee goes up.

Since last year, the fees that gas stations paid to credit card companies have risen 64 percent, right along with the price of gasoline.

For this complete story, please visit Credit Card Companies are Filling Up at the Station.

Credit Card Companies are Filling Up at the Station

Unknown Author

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