End Credit Card Fees On Charitable Donations
Consumer Protection, Petitions — By Chris Griglack on January 27, 2012 10:32 amTarget: CEOs of Visa, MasterCard, Discover, and American Express.
Goal: To demand that credit card companies permanently end transaction fees on charitable donations.
Some of the largest credit card companies in the world are profiting off of the misfortune and charity of others by helping themselves to some of the donations made using their cards. As much as $250 million a year, or 3% of all donations made using major credit cards goes directly to the credit card companies as transaction fees. This can be a significant loss for organizations who receive most of their donations online, and it makes them less effective at providing necessary charity, services, and relief.
The credit card companies have temporarily waived these transaction fees before due to public demand: for the 2004 Indian Ocean tsunami, and for the 2010 Haiti earthquake. Both times the fees were reinstated once the publicity surrounding these events decreased. Some of these companies have even gone so far as to create special plans which would decrease these fees for certain card holders, all so they can cling to as much of these donations as they can get away with. Rather than abolish these transaction fees, credit card companies are content to see $250 million of charitable donations never get to the people who need it.
These companies have all backed down in the past when their customers took notice of these fees. Visa, MasterCard, Discover, and American Express are all too aware that it’s bad business to openly steal money from charities, but they think that no one is paying attention without a global relief effort in progress. Sign this petition to let these companies know that they’re not getting away with it. Because 100% of charitable donations should go to the people who need them, 100% of the time.
PETITION LETTER:
Dear Joseph Saunders, CEO of Visa, Robert Selander, CEO of MasterCard, David Nelms, CEO of Discover Financial, and Kenneth Chenault, CEO of American Express,
Charging transaction fees on charitable donations made with your credit cards should be banned. There is no excuse for trying to make a profit at the expense of those in need. Not a single cent of this money should ever be diverted from the organizations that need it.
Such practices make your company look particularly unappealing, especially in times of economic disrepair. As a percentage of your total profits this money is almost nothing, yet it means so much more to both the people who donated it and those who were supposed to receive it.
It is insulting to me that you would waive these fees only in times of high publicity crisis, and it is worse than that to countless people whose lives depend on the donations your customers make. If you cared at all about your customers and their beliefs you would permanently remove all transaction fees on charitable donations.
Sincerely,
[Your Name Here]
Facebook Comments
Charging transaction fees on charitable donations made with your credit cards should be banned. There is no excuse for trying to make a profit at the expense of those in need. Not a single cent of this money should ever be diverted from the organizations that need it.