A new survey by the Retail Council of Canada of small and independent business owners denounces high credit card fees in Canada and the absence of legislation to curb climbing fees.

Apparently, they're so fed up with major corporations like Visa and MasterCard they embarked on a media campaign last month called 'Stop Sticking It To Us,' and they'd like credit card users like us to back them up.

Every year, Canadians pay more than $4.5 billion in hidden credit card fees. In addition, Interac is now seeking to restructure in order to compete with Visa and MasterCard as they prepare to introduce debit services into Canada.

So-called 'interchange fees' represent an enormous cost for average Canadians and organizations which depend on credit cards, such as small merchants, charities, schools, restaurants and more. According to the Retail Council, the average Canadian household pays hundreds of dollars a year in interchange fees without even knowing it, as they are a hidden portion of the cost of virtually every transaction they make.

A new poll conducted by Nanos Research on behalf of the Retail Council of Canada found that: 55 per cent of Canadians had a poor understanding of the fees associated with credit cards; 63 per cent of Canadians believe that credit card fees are increasing with no noticeable increase in value; and 77 per cent of Canadians believe that credit card companies are not fully transparent in explaining their fees for credit cards.

Nearly $2 of every $100 Canadians spend using credit cards goes directly to the big credit card companies and their issuing banks.

Canada is one of the few industrialized countries in the world that doesn't regulate these fees, which is why they are among the highest in the world -- and they continue to escalate.

Credit card companies and banks are taking advantage of local retailers, businesses and all Canadians by exploiting loopholes that keep the true cost of skyrocketing fees from the average consumer, maintains a spokesperson for the Retail Council of Canada. Their coalition is seeking government action and calls on political candidates to tell voters in all ridings what their position is on this issue.

The coalition points out that unregulated and skyrocketing fees are of particular concern in the current period of economic softening in Canada, when consumers and businesses are pressured to be increasingly cost-conscious.

Want to check it out or raise your own concerns about this issue? Visit "www.StopStickingItToUs.ca," a national campaign against big credit card companies and their banks.