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NEED TO KNOW | The store near my house charges a different price for credit card purchaces than for cash? |
When customers use a credit card to make a purchase the the store owners charge a higher price for the purchase. I do believe that it is illegal and I want to know what to do. Also they make you spend $5.00 min. for you to use the credit card. I heard on the news this morning that you are not required to make a min. purchase in order to use the credit card. Please help I know I have been over charged .But I am disabled and can not walk too far to the store.Thank you |
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Big Guy 80's
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It is illegal to make you spend a $5.00 limit on your credit card purchases. I have a store that does the same thing. Report this to the police. Or just tell them you know its illegal. They get charged like $ 1.50 per credit charge. |
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ck
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A lot of stores charge a minimum for credit card purchases. I think it's because it actually costs them money for you to use a credit card. So, for you to use it for a dollar or 2 actually hurts them financially. I don't know if it's legal or not, but a lot of places do it. I don't think they can actually charge you more for using a credit card. I think they can just require a minimum purchase. |
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amaya7
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merchants can set their own rules |
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Rainy
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because of what the credit card companys charge for a company to except credit cards . . . it is legal for a store to offer a cash discount but not charge a higher price for an item for use of credit card . . just remember you may be putting that small mom and pop store out of business by charging small amounts cause it costs them soo much to process the charge and pay for the merchandise that they are not making enough to cover over head expenses. . My dad told me when I was a little girl if you don't have the money to pay cash you should wait til you do cause it makes it that much better . . |
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copious
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Depends on what State you are in. In my State it is very legal to charge a customer an additional fee for use of a card. All that is required is that the merchant post a notice at the check out counter expressing this policy. I've never seen it done, but it's legal.
So far as a minimum....that is also very legal, but is in direct violation of the merchant agreement with the credit card company. I'd turn them in for this. They could loose their ability to act as a merchant and accept credit cards at all. |
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Dave V
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I have run into the same problem.
The credit card companies charge the shop owners a percentage to process the credit card fees, and of course to make a profit. The shop owner is passing this charge along to you. This is in addition to the interest you pay the credit card companies each month. That is why the banks that issue credit cards make all those billions in profits every year.
Shop owners accept credit cards as a convenience to you. They are not required to accept credit cards, though it would be foolish not to, since they are in such widespred use.
I don't know if it is illegal to pass this fee along to the customer. When I run into this problem, I can either pay it or go somewhere else.
I am sorry you are disabled and cannot travel. How much interest do you pay the credit card company every month? It may be to your benefit to get rid of the credit card and just pay cash. You would save the interest and the shop owners fees and have more money left over every month. |
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biwagirl20
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They can impose a minimum purchasebut the CAN NOT charge you a sur-charge to use your card.
In the late 80's or early 90's the government passed a low that it was " A COST OF DOING BUSINESS" and that business owners could not charge a fee for using credit/debit cards. The McDonalds owner in North Bend got sued in a class action suit for charging people 50 cents to use their debit/credit cards and had to pay millions in fines.
A lot of Asian and Middle Eastern stores in my area try to charge a fee for card purchases even though they know it is illegal, I tell then it is against the law and I refuse to pay it and if they want to call the police on me for not paying for the gas in my tank then I will sue them for the violation of charging me for a credit card transaction. Then I simply write a letter to the company, IE, Shell, Exxon, Tesoro, Cheveron and advised them of what is going on. And I do not go back.
Everytime you use a credit card the merchant has to pay a percentage of the total transaction, with debit cards it is usually a flat rate of a few cents each time one is used. They are trying to recover thoes fees by charging you. A credit card transaction is usually about 3% so if they charge you 50cents for a $5 charge they are making more money.
It is just a scam to bilk you out of your hard earned money. |
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iceman
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Unless they have changed the rules of late, merchents can still set their own rules on credit card purchases. Its stupid of them to do it because they will probably lose buisness, but I think legally its still their choice. I am guessing they charge about 3% higher, because thats what merchents pay for each credit card transaction. |
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GracieM
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Credit card companies charge the merchant a small percentage to process the charge. The store owner is trying to recoup that charge by raising his prices....totally illegal if he only does this for credit card purchases. The rates are lower for the store owner when customers use a debit card.
Merchants can, however, set a minimum for credit card purchases.
The owner's merchant number should be on the receipt. This is his ID number. Get that number and call the credit card company. I'm sure there will be someone who can help you, or tell you who you can call. |
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dual_reality2
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It costs a merchant to process a credit card or debit card..so to make sure they don't lose money..the cost is passed on to the consumer.
It's getting rare that a merchant is willing to let you pay with a credit card under a certain amount. |
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SCH
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The answer is that neither is legal...but both happen on a daily basis. I regularly go into places that require a $10 min purchase to use my card...since they have signs stating they can refuse service to anyone this is how they get around the legal aspects of the process. As for charging a higher price that is blatently illegal and should be called to the BBB's attention.
I am not justifying but credit card companies charge the store owner for each transaction he processes and that is why they require a minimum purchase some times. Usually it is a small business who has realized they cannot afford the fees they are getting charged on small purchases. I worked at a hometown grocerey a long time ago and we were asked to encourage customers who had less than $10 worth of stuff to pay with cash or check instead...it's just the way small businesses try to manage overhead costs! |
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