Merchants Group: Consumers Picking Up Tab for Credit Card Junk Mail

WASHINGTON, D.C.–Ever wonder who pays for all the credit card junk mail in mailboxes? According to new advertisements appearing this week, all Americans do, through credit card fees. The ads, placed by the Merchants Payments Coalition, a group of merchant trade associations seeking a more competitive and transparent credit card fee system, show how the big credit card companies use some of the billions they collect from the credit card interchange fee to pay for marketing campaigns–more than nine billion unsolicited credit card offers every year. The ads depict a consumer buried in envelopes, and carry the text: “Ever wonder who pays for all that credit card junk mail? You do. It comes from your credit card interchange fees. Interchange is the biggest credit card fee you’ve never heard of–and it’s dangerous.” The ads began running in Washington newspapers Monday in anticipation of a hearing on interchange fees scheduled to be held Thursday by the House Judiciary Committee’s Antitrust Task Force.