A Massachusetts store owner has started a nationwide petition against what's called interchange Watch ReportNewsCenter David Brown reported that they are unregulated credit cards fees charged to store owners for every credit and debit card transaction. It's a hidden fee that is eventually passed on to the consumer.For years, Dennis Lane has owned a Eleven on Adams Street in Quincy. Lane said credit card companies are taking a big portion from each credit card purchase and that has spurred him into action.Roughly percent of the cost of each purchase is eaten up by the fee.An in store petition is asking for customers' help. It asks Congress to regulate the interchange fee a fee that Lane said has skyrocketed in recent years."We believe that the escalation of fees has been extreme and unreasonable, and we believe as responsible retailers should have an opportunity to negotiate those fees," Lane said.According to the Electronics Payments Coalition, the payments to credit card companies have jumped percent since Elevens paid million to credit card companies for transactions. In the fee was million.Lane said by regulating the fee, the consumer would be paying less."We could reduce those fees and lower the overall cost of goods the cost of doing business as a responsible retailer we would pass the savings on to the consumer," Lane said.Customers are eagerly signing up, happy to get rid of extra fees."There are so many of them that are not explained. It just seems senseless. It's like when you are paying points to the bank and just wondering where is that going?" customer John Parsons said.At Eleven stores across the country, more than 1 million people have signed the petition. They hope to have million by Aug. The petitions will be delivered to All rights reserved. This material may not be published, broadcast, rewritten or redistributed.In these crazy financial times businesses come and go. There’s no way to be certain a company you placed an order with, from entertainment centers to custom made drapes, will still be around when it’s time for pick up. Maybe you bought something through the mail and it never showed. Sometimes you may get the item but it's damaged or broken and the store is being difficult about taking it back. It's a complaint I hear from people all the time, "I didn't get what I paid for I can't tell you how many times I've written this back, "how did you pay for the purchase? If you paid for it with a credit card and sometimes even a debit card, you're in luck. If you bought it with cash, you may be out of luck."Under the federal Fair Credit Billing Act if you paid for something using a credit card and didn't get it, the credit card has to take the hit for the purchase. Even if the store filed for bankruptcy, took your money and ran or fled in the middle of the night, the credit card has to cover you. Call your credit card company and immediately put the item in dispute, sometimes you can even do this online. The bank will investigate and unless the company can come up with a pretty compelling reason or a story that really contradicts yours, the charges should be reversed.Debit cards are covered under different federal regulations and your local bank doesn't have to cover you, but if it's backed by VISA or MasterCard contact them--they may be able to help.Yeah, I admit, I’ve written scathing articles about banks and credit card companies in this column. I’m still mad my interest rate shot through the roof, but gotta tell you when it comes to protection for something you did not get, paying with plastic the best way to shop. If you have the cash, just pay off the balance on the credit card to avoid the insidious interest rate increase going on right now. In these crazy financial times businesses come and go. There’s no way to be certain a company you placed an order with, from entertainment centers to custom made drapes, will still be around when it’s time for pick up. Maybe you bought something through the mail and it never showed. Sometimes you may get the item but it's damaged or broken and the store is being difficult about taking it back. It's a complaint I hear from people all the time, "I didn't get what I paid for!"I can't tell you how many times I've written this back, "how did you pay for the purchase? If you paid for it with a credit card and sometimes even a debit card, you're in luck. If you bought it with cash, you may be out of luck.Under the federal Fair Credit Billing Act if you paid for something using a credit card and didn't get it, the credit card has to take the hit for the purchase. Even if the store filed for bankruptcy, took your money and ran or fled in the middle of the night, the credit card has to cover you.Call your credit card company and immediately put the item in dispute, sometimes you can even do this online. The bank will investigate and unless the company can come up with a pretty compelling reason or a story that really contradicts yours, the charges should be reversed.Debit cards are covered under different federal regulations and your local bank doesn't have to cover you, but if it'backed by VISA or MasterCard contact them--they may be able to help.Yeah, I admit, I’ve written scathing articles about banks and credit card companies in this column. I’m still mad my interest rate shot through the roof, but gotta tell you when it comes to protection for something you did not get, paying with plastic the best way to shop. If you have the cash, just pay off the balance on the credit card to avoid the insidious interest rate increase going on right now. In these crazy financial times businesses come and go. There’s no way to be certain a company you placed an order with, from entertainment centers to custom made drapes, will still be around when it’s time for pick up. Maybe you bought something through the mail and it never showed. Sometimes you may get the item but it's damaged or broken and the store is being difficult about taking it back. It's a complaint I hear from people all the time, "I didn't get what I paid for I can't tell you how many times I've written this back, "how did you pay for the purchase? If you paid for it with a credit card and sometimes even a debit card, you're in luck. If you bought it with cash, you may be out of luck.Under the federal Fair Credit Billing Act if you paid for something using a credit card and didn't get it, the credit card has to take the hit for the purchase. Even if the store filed for bankruptcy, took your money and ran or fled in the middle of the night, the credit card has to cover you.Call your credit card company and immediately put the item in dispute, sometimes you can even do this online. The bank will investigate and unless the company can come up with a pretty compelling reason or a story that really contradicts yours, the charges should be reversed.Debit cards are covered under different federal regulations and your local bank doesn't have to cover you, but if it's backed by VISA or MasterCard contact them--they may be able to help.Yeah, I admit, I’ve written scathing articles about banks and credit card companies in this column. I’m still mad my interest rate shot through the roof, but gotta tell you when it comes to protection for something you did not get, paying with plastic the best way to shop. If you have the cash, just pay off the balance on the credit card to avoid the insidious interest rate increase going on right now. In these crazy financial times businesses come and go. There’s no way to be certain a company you placed an order with, from entertainment centers to custom made drapes, will still be around when it’s time for pick up. Maybe you bought something through the mail and it never showed. Sometimes you may get the item but it's damaged or broken and the store is being difficult about taking it back. It's a complaint I hear from people all the time, "I didn't get what I paid for!"I can't tell you how many times I've written this back, "how did you pay for the purchase? If you paid for it with a credit card and sometimes even a debit card, you're in luck. If you bought it with cash, you may be out of luck."Under the federal Fair Credit Billing Act if you paid for something using a credit card and didn't get it, the credit card has to take the hit for the purchase. Even if the store filed for bankruptcy, took your money and ran or fled in the middle of the night, the credit card has to cover you.Call your credit card company and immediately put the item in dispute, sometimes you can even do this online. The bank will investigate and unless the company can come up with a pretty compelling reason or a story that really contradicts yours, the charges should be reversed.Debit cards are covered under different federal regulations and your local bank doesn't have to cover you, but if it'backed by VISA or MasterCard contact them they may be able to help.Yeah, I admit, I’ve written scathing articles about banks and credit card companies in this column. I’m still mad my interest rate shot through the roof, but gotta tell you when it comes to protection for something you did not get, paying with plastic the best way to shop. If you have the cash, just pay off the balance on the credit card to avoid the insidious interest rate increase going on right now.
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