There was a recent article in the Forum about credit card traps to be aware of.

Coming this Sunday, January 28 there may be another fee to be aware of, Credit Card Checkout fees. Merchants will be allowed to charge a fee for accepting Mastercard and Visa. It doesn’t mean they will, but some might.

They need to tell you or have signs up about it so you know there will be an extra charge. Retailers are allowed to charge a fee that is the equivalent of what they pay for the interchange fee, which is between 1.5% and 4%. The fee only pertains to credit cards, not debit cards and only Mastercard and Visa.

Some experts don’t think most retailers will end up charging this fee unless they are in a specialty business.

Posted in Budgeting, Saving
Nancy Kvamme

Comments are closed.