Credit Card Surcharging Fees

Beginning 1/27/13, retailers will be allowed to charge a fee to consumers using a credit card. Not sure if they will vary but on tv stated it would be an additional 4%. I am sure this has resulted from the democrat congress people helping us...please no more help!

http://usa.visa.com/personal/using_visa/checkout_fees/index.html

Darth Cheney wrote:Beginning 1/27/13, retailers will be allowed to charge a fee to consumers using a credit card. Not sure if they will vary but on tv stated it would be an additional 4%. I am sure this has resulted from the democrat congress people helping us...please no more help!

http://usa.visa.com/personal/using_visa/checkout_fees/index.html

It actually comes from a settlement between a group of merchants and Visa/MasterCard.

http://www.dailyfinance.com/2013/01/24/new-credit-card-checkout-fee-starts-sunday/

http://www.dailyfinance.com/2012/07/17/how-soon-will-merchants-start-charging-you-more-to-pay-with-plas/

Time to dust off the old checkbook.

Didn't read the link. Does this apply to debit cards?

Hansolo wrote:Didn't read the link. Does this apply to debit cards?

Nope...just credit cards and perhaps just VISA cards. I am going to miss my cash rebates and perhaps all vendors won't charge the fee. I would think VISA themselves will be hurt by this doing less business and less ability to charge card holders 20%+ in interest. Of course they haven't received 1 dime from me in interest charges in 30+ years.

The only "credit" card I have is a Scheels Visa, which I rarely use. But it was nice to get that rebate of 3% at Scheels and 1% any where else.

Guess I won't be using it much any more.

BladeRunner wrote:The only "credit" card I have is a Scheels Visa, which I rarely use. But it was nice to get that rebate of 3% at Scheels and 1% any where else.

Guess I won't be using it much any more.

It'll be up to the merchants whether or not they will want to charge the surcharge and it could be lower than the 4% cap. I think it won't stick. There's too much competition.

It's interesting to note that State and County governments have been charging this surcharge for years. The County Treasurer does when you purchase your license plates with a credit card and when I tried to charge my daughter's tuition at SDSU (to get air miles) they 1) Didn't take VISA (probably because of the surcharge) 2) They charged a surcharge on Master Card albeit they called it a "convenience charge". LOL.

These charges have always been there, just being passed on to all buyers. I'm OK with CC users paying the extra if the cash payer doesn't have to. But alas the cash payer will probably not see any savings anyway. Poor Banks whatever will they do? Oh well I'm off to the payday loan place, time to pay my mortgage.