Transaction fees are a minimal price to pay for the convenient use of credit cards, although the government is now saying that these fees are too high and should be capped. The government thinks they should set these caps/limits to about 12 cents per transaction. But, credit card companies like VISA, MasterCard, and American Express want to be able to choose fees. They charge, say, 3 percent of each transaction. I believe there should not be a cap on credit card fees, but the government should reserve the right to put one on in case one company gets a monopoly or companies collude to made fees go up very high.
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