Why do credit card companies charge a processing fee?

Answer 1

This is part of how they are able to pay their employees, pay for costs of supplies to run their corporation, etc.

Do you think they are simply going to let you borrow the money from them (hence the term CREDIT card) and pay for the entire upkeep of their company, and you pay nothing when you don't return them the money you borrowed from them on time?

Answer 2

Unfortunately, they do it because they can. Over the years, American Congressman and Presidents have given credit card companies too much power. They can change terms without your approval and can even raise your interest rate because your credit rating deteriorates (even though you may be up-to-date with that specific credit card). Effectively, we've given them the ability to write money. The problem is that they need to constantly find the balance where they will keep customers and how they will be able to increase their earnings each year. So, a processing fee is great. They might even be able to hide it in their marketing materials. If you want to start getting back some of the consumer rights that all Americans deserve, write your Congressman once a month about the ways you think credit card companies are abusing the rights they've been given. Remember, it wasn't long ago that people rotted away in debtors prisons in the UK. With recent changes to the bankruptcy law, we're not so far from there again.

Answer 3

Why does anybody charge anything for anything-for the usual reason-they want to make as much money off of someone that they can.
Here's an idea-don't get a credit card! In the words of Henry David Thoreau-anybody charging a processing fee ought to be avoided at all cost!

Answer 4

They are greedy, blood sucking corporations in business only to make money!! Look for some that don't!

Answer 5

Because credit cards are of the devil!!!

Answer 6

to make money -