Guess who makes out when the price of gas shoots up?
The credit card companies charge a flat percentage of the price of the gas sold (usually 2-3%). So, when gas prices change from $2.50/gal to $3.50/gal, the Amex/Visa/MC/etc. gang love it. Arrrgh.
Yep, inflation helps them in every market. When NY and the feds charge a NY consumer almost 60 cents a gallon in tax, they're getting their 3% of that too. The credit card companies love sales tax hikes as much as they like inflation...but there's no outcry here since those companies are making HUGE donations to political parties/politicians/PACS. Hmmmm
Cheers,
warman and i do
h u r c a s rt
MotorsForum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.