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Article: Windfall Profits for the Credit Card Companies This Weekend: Credit Card Companies to Rake in Millions This Weekend at the Pump at the Expense of Holiday Travelers.
- Article from:
- PR Newswire
- Article date:
- May 25, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON, May 25 /PRNewswire/ -- The Merchants Payments Coalition (MPC) said today that with more than 31 million Americans driving for the Memorial Day holiday, credit card companies stand to make millions this weekend from credit card fees at the gas pump.
In a recent survey by the Travel Industry Association and AAA, it was estimated that 31.4 million Americans are expected to drive 50 miles or more from their homes this coming weekend. Consumers know they are paying near- record high prices for gasoline from coast to coast, but what they don't know is that credit card companies are raking in windfall profits as gas prices rise. When they go to the gas pump ...