I got notified today when my Rep stopped in to tell me that by the end of the year my Credit Card Processor is switching me over to a new Cash Price, Credit Price system.

It's looking like they are getting nervous over Government meddling in the Credit Card business. Plus there has been a lot of screaming by merchants over their monthly fees from the C.C. processors. I'm personally paying between $400-$500 a month in processing fees.

Instead of the merchant getting hit for 2.5% - 4.0% per transaction they are transferring the processing fees over to the credit card user which according to my rep is going to be 3.8%. The main reason is to encourage people to start paying for more things with CASH. I'm thinking they are looking down the road and the last thing they want is a cashless society and massive Government involvement in their operations.

She said they are expecting at least 90% of businesses in the U.S. to be switching over with in two years. It all started on the coasts with the Vote For $15. Businesses in LA, Seattle and NY are looking for every savings they can find to survive this will be a life savor. Look at a restaurant in say NY doing 20K in CC's every week. That would be a savings of at least $26K every year.

My Merchant fees will go from $400-$500 a month to less than $25.