Credit Card Surcharging Fees
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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
http://usa.visa.com/personal/using_visa/checkout_fees/index.html
Darth Cheney- Posts : 3557
Join date : 2012-12-26
Location : SE SD
Re: Credit Card Surcharging Fees
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/
Gomezz Adddams- Posts : 2962
Join date : 2012-12-22
Re: Credit Card Surcharging Fees
Time to dust off the old checkbook.
Darth Cheney- Posts : 3557
Join date : 2012-12-26
Location : SE SD
Re: Credit Card Surcharging Fees
Didn't read the link. Does this apply to debit cards?
Hansolo- Posts : 44
Join date : 2013-01-01
Location : Not Pukwana
Re: Credit Card Surcharging Fees
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.
Darth Cheney- Posts : 3557
Join date : 2012-12-26
Location : SE SD
Re: Credit Card Surcharging Fees
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.
Guess I won't be using it much any more.
BladeRunner- Posts : 1922
Join date : 2012-12-21
Re: Credit Card Surcharging Fees
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.
Gomezz Adddams- Posts : 2962
Join date : 2012-12-22
Re: Credit Card Surcharging Fees
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.
Freedom Forever- Posts : 1123
Join date : 2013-01-14
Location : Yur Mom's House
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