Credit card firms set out to stop separate pricing

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http://new.photos.yahoo.com/fd_busin...803482467844/1

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Good news sa mga mangungutang... apil nako ani.... hehehe

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DTI prohibits surcharges on credit cards
Gregg M. Rubio/LPM
The Freeman
11/03/2006

The Department of Trade and Industry recently issued Administrative Order No.10 that prohibits credit card companies, banks and other establishments issuing automated debit cards from imposing surcharges on cardholders.

Zaide Bation, chief of the Trade Regulatory Division of DTI-Cebu, said the order was necessary in order to put a stop to the unscrupulous practices of credit card companies and banks of collecting surcharges from cardholders.

Set to take effect on November, the order also carries imprisonment of one to six months, a fine of P500 to P300,000 and revocation of license.

Earlier, Catanduanes Rep. Joseph Santiago had filed a bill in Congress seeking to abolish the imposition of surcharges of all credit cards.

The association of credit card companies reported that about five million Filipinos nationwide have credit cards.