Think twice when you pull out your credit card today.
A controversial federal court ruling last year has given retailers the go-ahead to tack bank surcharges for credit card purchases on customer bills—starting Sunday. Bank fees between 2 and 4 percent of a credit card purchase had traditionally been covered by retailers making the sales, but smaller businesses without the backing of major corporations usually felt the brunt of these charges.
Ten states prohibit passing fees on to credit card users, but Maryland isn't one of them, according to an announcement issued by the Bethesda-Chevy Chase Regional Services Center.
Customers can avoid the charges by paying with debit cards or prepaid cards. According to a Time Magazine report on the issue, stores must warn customers with a sign on the door before charging them the fees, and not all retailers will pass on the fees for fear of alienating customers.
Would you pay extra fees at the register for the convenience of credit cards?