Monday, November 24, 2014
Using a Credit Card May Cost More
(WOLO) COLUMBIA,S.C., --
Carrying cash has become a thing of the past, but that may soon change since a settlement gives stores the ability to charge you a fee on top of what you've already paid for your purchase.
The agreement between Visa, Mastercard and nine banks will allow retailers to pass an issuers fee on to you, the consumer. Up until now, the 1.5 to 3 percent charge was a fee each store accrued.
Some merchants like Target and Walmart have vowed not to issue the fees, but there are some stores who will and you won't know until you've already paid.
The best ways to avoid the fee is to pay with cash or request a debit transaction where the fee doesn't apply.
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