Are the credit companies foregoing their usual commission on Haitian relief?
American Express and Visa are waiving fees.
American Express, Visa waive fees on Haiti donations
http://www.google.com/hostednews/afp/article/ALeqM5hEjW7jvSPmjwKEv36W0f37zXbbEw
How nice of them, after every single one of my credit card jacked up my rates to comply by the February deadline. 
Interesting article. I was just thinking about this, and it’s good to see they aren’t making a profit on it (this time).
Nothing was said about Master Card and about outside the US.
Refunding transaction fees implies that not only are credit card companies not making a proft, they accept a loss for each transaction. Transactions are costly to process.
Is this sarcasm or something? What exactly is costly about adding some fields to a database and moving some money electronically from one bank to another? The incremental cost of processing a credit card transaction is negligible.
The biggest cost is probably from Amex or the banks advancing the money to the charities for a month until the charges come due.
However, the cost of processing 500,000 credit card transactions is not.
And the incremental benefit of a $10 or even $100 donation to Haiti relief is also negligible. But it’s amazing what happens when you multiply that by a few thousand or million.
Actually, since it’s an incremental cost, it stays the same. You do know what an incremental cost is, right?
Yes. Which is why I didn’t say anything about incremental cost.