Retailers Begin Charging Credit Fees Sunday
A fee of up to 4 percent of a credit card purchase could be added to your bill come Sunday.
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 …
Ray Whalen
10:17 am on Sunday, January 27, 2013
The cost of providing services is not a liberal or conservative issue. The consumer always pays for ALL costs or the vendor goes out of business. The question is in what manner the cost is passed through to the end user. The government should stay out of it completely. Retailers want customers and customers want goods and services. The market and competition will change the way business is done … more ›