Most of us know how much our credit card is costing us, although as I posted before many of us don't know how the credit card companies can "trap" us into paying higher fees and interest rates. What a lot of us don't know is how much the seller of what we're buying is paying to the credit card company. Now there's a website called truecostofcredit.com where you can plug in the first six numbers of your card (the first six numbers don't identify you in any way, but do identify the issuer of the card) and it will spit out what the credit card company charges the seller. I think you'll be surprised at how much they charge.
I should note that what the credit card companies charge is perfectly legal and the sellers enter into the arrangement with eyes wide open. I also think that credit card companies should make money for the service they provide. My problem with many of the card issuers are some of their practices, like changing your interest rate for no good reason and charging some interest rates that can fairly be described as usury, and the fact that they are not transparent in their business practices. That's why I'm glad to see some sunlight being shined on their business practices.
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