Retailers Can Now Charge Customers Fee on Credit Cards - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Retailers Can Now Charge Customers Fee on Credit Cards

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A lot of shoppers have ditched the green and taken to plastic in recent years, but a new surcharge may change that decision. As of Sunday, retailers can now add up to a 4 percent charge onto your bill if you pay via credit card for a processing fee.

Last year, retailers filed a class action lawsuit against Visa, Master card and other big banks to bring down their credit card processing fees, but in a $7.2 billion settlement, instead of reducing the fee, they're now given an option to pass it on to the consumers.

Even though it's legal now, Tom Scott, senior vice president of Michigan Retailers Association says it's very unlikely consumers will see any changes.

"The reality is that the marketplace is so competitive, very few retailers will try to pass that on to the consumer and risk alienating the consumer, when all the consumer has to do is walk out the doors," said Scott.

if a business does choose to pass it on, it won't be easy to hide it. They have to give a 30 day notice, post a sign in their store and also print it on their receipts.

As a consumer, you can avoid it all together by using your debit card or just paying in cash.

The settlement is not permanent and could be overturned by a judge in the fall.

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