Shared Reading: New Credit Card Fees

.

Credit Cards | New Consumer Fees


Each time you swipe your credit card at a store, the retailer pays a small transaction fee to the companies that processes the payments. Thanks to some recent court cases, they can now pass those fees on to the consumer in 40 states across the country. The ten states not effected still have laws that prevent check out fees of any kind, including credit card fees.
These states include:
  • California
  • Colorado
  • Connecticut
  • Florida
  • Kansas
  • Maine
  • Massachusetts
  • New York
  • Oklahoma
  • Texas
Source: Consumer Action

While some stores, such as gas stations, have been offering cash "discounts" for years they can now charge a credit card surcharge equivalent to the fee they pay for the transaction, with a maximum fee of 4% allowed.


While I normally only share a single article at a time, I felt it necessary to do more research this time and share from multiple sources.  Check them out to read more about the upcoming changes to credit card rules.

1 comments:

Muhammad Amir said...

Thanks to some recent court credit card processing cases, they can now pass those fees on to the consumer in 40 states across the country.

Post a Comment

 
Make Cents of It is proudly hosted by Blogger.com | Domain from 1and1 | Design by Tricks Finder