Credit Card Surcharge Fees Coming For Mastercard And Visa

Credit Card Surcharge Fees Coming For Mastercard And Visa

Normally you see a lot of smaller businesses charge people surcharge fees if the customer intends to use a credit card due to the added fees a merchant has to pay. Normally this would be against the terms of services for a lot of credit card providers. I guess starting tomorrow though it will now be standard practice should the business decide to do so where any merchant can apply standard fees for people who use a credit card.

This wouldn’t just be for situations such as when you go to purchase some groceries at the supermarket. But imagine everyone who also pays some kind of monthly bill with the use of an auto credit card payment. That could easily mean a potential extra two dollars or more per month for things like an Internet bill as an example. Will this translate to more people opting to use cash or debit payments?

There was a perspective on how larger businesses will probably keep things as is. This would now be an extra factor as to who you should shop from where a large purchase can cost a lot more if a business insists on charging for the use of a credit card. I often use it as much as possible due to items such as cashback rewards. Wondering if I will start seeing signs everywhere of the surcharge now.

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