 Collection Agency Question? |
I've heard conflicting information so I'm looking for some definitive answers. With regard to collection agencies:
1. Can they actually sue you and/or even collect the debt in ... |
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 Having "TOO" much Credit? |
Ok.
So I was told at the tcar lot today that I have too much credit and can't get a car.
I pay every single bill on time and have mulitple credit cards that i pay on time.
... |
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 Is this a scam? |
| Someone sent my wife a $3500 check from south africa with a letter stating I won a $900,000 drawing. They said the 3500 is to cover the taxes. They want me to cash the check and they will make ... |
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 I need car finance but have no proof of income and bad credit history is there any lenders? |
| i was discharged from bankrupacy 3 years ago and most of my work is cash so proof of income is difficult to ... |
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 If I pay my credit card off completely every month, then how does a credit card company make money off of me? |
| i've paid my credit card every month completely since i've had it. i have excellent credit. My credit card is American Express. If they know I pay it off every month then why do they keep ... |
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 Should teens have credit cards??? |
Only answer in
yes
no way
not sure
yes, but one that i can ... |
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 Credit Repair help! I have paid every bill owed on my credit report, meaning I am debt free, READ ON? |
however even though all my debts are paid
(what a great feeling)
my credit report is a mess because these lousy creditors have not updated my report. So in reveiwing my report I am so over ... |
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 What chances do I have of getting an auto loan with a 495 credit score? |
| im looking for a used car between $6000 and $9000. Will I be approved and what will my down payment need to be?... |
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 When you apply for a credit card online...? |
| ... after you submit the application and the screen says "your application has been approved"... would it still be possible for the card issuer to review your application again and ... |
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 I have a collection that is wrong but do I fight it or just pay it off? |
| I recently checked my credit report and found a collection on my account for a utility bill from 2004. The amount is not very large but I know it must be wrong because I never lived in that city ... |
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 When should I get a mortgage? |
| My lease is up on May 1st. I only have a small downpayment and my husband and I both have poor credit scores (mid 500s). Together our income is over 55000, but since we are young, we haven't had ... |
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 I have horrible credit and can't get a credit card? |
| I would like to get a credit card for emergencies like gas, prescriptions etc. My credit is terrible from being stupid when i was younger. I can't fix my credit right now because i don't ... |
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 Is there a way to know my VISA card number? |
| I put my Visa card in the bank's locker but i forgot the number, is there a way to remember what it is without getting the card?... |
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 How many people are in debt out there? |
| i dont mean mortgages or car loans.. but credit cards and other bills... I am 10,000 in debt.. just wondering if im the only one.. you dont have to say how much.. i just wanted ... |
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 Why don't I have perfect credit? |
I've never EVER been late on a payment, I've had and paid off several trade lines (and early too), so why is my credit score not an 800 or above? I just don't get it!
Additional D... |
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 Im 14 yr old and i need a credit card? |
| i need a credit card that will work for 14 yr ... |
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 Does running a credit check really lower your credit score????? |
| when the ask you at the store if you want to sign up and they check your credit do you loose 2 point off your score????... |
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aaron b | Can a buisiness charge a fee for any credit card transaction? |
I live in San Francisco. In my old hood the corner store charged you for credit/debit purchases under a certain amount. My new corner store charges 50cents for any and all card transactions. Is that legal? |
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bdancer222
 |
Actually, they are in violation of their merchant agreement with the credit card companies. You could call the Visa or MasterCard 800 number and turn them in. The store might lose the privilege of accepting credit cards.
However, you would not get a refund of the surcharge. |
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Carl_the_Truth
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Yes, it is...It costs them money to offer that service. Big stores make a bigger profit from sales.. |
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mukwonago53149
 |
Yes, it is legal. The business does not have to accept credit card transactions - only "LEGAL TENDER." Legal tender is defined as cash (paper money + coins).
If they accept credit cards, they are doing so as a benefit to you. The reason they charge extra is because there are costs the business needs to pay companies like Mastercard & Visa to process the transactions. |
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Kitty
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Yes it is legal because they have to pay a fee for every transaction that is made using a credit card. If you don't spend at least a certain amount of money then they lose money on your transaction. |
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J. W. H
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yessir.. it is.. it is called freedom of enterprise.. it is found in the bill of rights.. they can charge you ten bucks if they want.. but 50 cents..sounds pretty cheap.. pay it and go on.. the reason they charge the fee is probably because of two things.. one..they have to wait on the money for a couple of days.. and two.. they must pay a 1 to 3 percent fee for the processing by the card company.. if you buy ten dollars worth.. it cost the store.. 30 cents for the transaction and they have to wait for two or three days to get their money.. if their margin of profit is 20 percent.. then they are basically losing money by accomodating you.. yes it is legal and sometimes necessary for the retailer.. |
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*****
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Some stores automatically figure this into the markup price , and most peole don't even know about it. |
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tonalc1
 |
Actually, one is not legal, one technically is.
Merchants accepting Visa, Discover or MasterCard credit or debit cards are not allowed to set a minimum amount for using the card; that is a violation of the merchant agreement.
However, there is no federal regulation that prohibits charging a service fee to use a card. It's specific to each company's merchant agreement whether or not this is allowed. (Most do not allow it.) |
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manbear1
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Yes they can but only after advising you in writing that it will occur on or after a certain date. Banks can do exactly the same............It sucks !!
It sounds like your corner store itrying to recoup the fees they have to pay on transactions. There should be a minimum purchase limit after which the fee does not apply. |
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Sherry
 |
Yes it is completely legal. Many governments do the same thing. |
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Ghost
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No, they can not charge you extra for a credit card. They can offer a cash discount though, which amounts to just about the same thing, but how it is worded is a critical difference.
from: http://en.wikipedia.org/wiki/Credit_card
In the United States, until 1984 federal law prohibited surcharges on card transactions. Although the federal Truth in Lending Act provisions that prohibited surcharges expired that year, a number of states have since enacted laws that continue to outlaw the practice; California, Colorado, Connecticut, Florida, Kansas, Massachusetts, Maine, New York, Oklahoma, and Texas have laws against surcharges. Regardless of what state one resides in or purchases a product, however, both Visa and MasterCard have publicly stated that surcharges on credit card transactions are against the rules. [15]
So it appears it violates the credit card company rules and the law in CA. |
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