We all know most of the ridiculous and sometimes fraudulent things that banks and credit card companies do and advertise, so i won't go into those details. However you may not be aware of their latest form of scamming us and misleading advertising.

I am sure you have seen all those bank and credit card commercials that have been advertising how they and their cards will give you a percentage of "rewards" "cash back" etc. on every purchase when you use their cards. Well guess what? Again they are criminally misleading us. While it is true you will get these incentives, the lies come from whom actually gives them to you!

As most of you are aware, I am a seasonal business. In the winter sales are slow. One particular month this winter I had only one credit card sale. However it was for $6800.00. When i got my statement from my credit card processing company, I saw the normal percentage that they take out of every sale for this particular sale. However, in another section of the statement I noticed another charge of $175 taken from my account, and it was listed as "reward" for that particular card. Well, it was no reward to me as it was be DEDUCTED from my account on behalf of that $6800.00 sale! Since I did not know what this charge was, I called the company. They told me that this was an additional fee I had to pay because the customer used a card that offered a "reward" on their purchases. It was at this moment that I found out that the MERCHANT pays these incentive and NOT the credit card companies or banks! On their commercials they say that THEY will give you a "bonus", reward", etc, BUT it is not them at all giving them to you. It is the merchant like myself that pays 100% of this incentive, and the banks and credit card companies gives you NOTHING! Yes, you heard right! It's just another form of misleading advertising where they try to make themselves look good, when all along they are hurting you the consumer!

Can you imagine the meeting that took place when they came up with this idea? I can picture it perfectly. I picture some idiot sitting in the meeting at the bank or credit card company saying "how can we sucker more people into using our cards without it costing us (meaning them) a cent? Then someone chimes in and says;" I have an idea; Let's offer a reward or cash back BUT let's make the merchants pay all of it!" We can then advertise that we give these incentives, and it makes us look good, but in reality it we are giving up nothing"

Yes, that's right people, the MERCHANT is the one that is paying all those reward s and what not, and not the banks and credit card companies! So guess what? This will eventually mean these added costs to the merchant will be tacked on top of the purchase price of whatever product you purchase. In the end you are getting no rewards at all, and in the end it will simply jack up what you pay for things in the long run.

Doesn't this just piss you off? It surely does me! Americans are so easily manipulated and fooled by all the false and misleading advertising going on out there. I am here to tell you that banks and credit card companies WILL be the final nail in the coffin of the American economy. Think about this the next time you use your credit card.

Please do not take this rant as me saying or implying I will not take credit cards for purchases any longer, or that I do not wish to. I will continue to take them , and please do not feel guilty using them at my business. I just thought the truth needed to be told to all of you. By the way, You are all welcome for those rewards and such that we the merchants are giving you, but please give the credit to whom it belongs.