If You Use Credit Cards, You Could Soon See Additional Charges

By: Al Knox - Email
By: Al Knox - Email

Whether you use them on a daily basis, or just a few times a month, chances are you know someone who uses credit cards,

For the past few weeks, if you've used your plastic to make purchases, you may have noticed an additional charge on your bill.

It’s all because of a settlement with credit card companies such as Visa and MasterCard.

The companies previously had to pay the surcharge when consumers would make purchases. Now, the credit card companies are allowed to pass that charge on to consumers, making the final bill even higher when you check-out.

Jayme Hyer, Owner of Hyer Standards of Plover, says retailers are required to let consumers know that they have to pay the extra fee.

"You may see postings on doors or online. It will be on the point of sale when you to purchase. It will say we are implementing a surcharge. That charge goes to cover the cost that they pay to MasterCard and Visa."

Jayme says that retailers can add up to an additional four percent of the total bill onto what you will be paying.

It’s important to point out that this charge is only for credit cards, so debit cards will not be impacted by this new additional charge.

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