$5 minimum and $1 transaction fee

[kw79]

Went to a local pizza place today and used my credit card. Was told it would be an extra dollar for using my card and he pointed to the $5 minimum + $1 transaction fee sign.

 

I thought it was $10 minimums that were allowed?Also, is the transaction fee allowed?

[frank22]

No one answered, so I will:

 

You are correct on both counts. These are rules imposed by Visa/Mastercard, not laws except in some states. This has been discussed here before. The law changed a while back that forced Visa/Mastercard to allow for these minimums at the $10 level:

 

http://creditboards.com/forums/index.php?showtopic=441438

Edited June 30, 2012 by frank22

[frank22]

I was wrong on the minimum, the $5 is allowed. The minimum can be UP TO $10 and that makes sense.

 

http://www.creditcards.com/credit-card-news/credit-card-minimum-payment-purchases-law-1282.php can be UP TO $10.

[hegemony]

just because it is allowed does not mean the consumer should stand for it.

 

vote with your feet & wallet.

[Cosmos Human]

Went to a local pizza place today and used my credit card. Was told it would be an extra dollar for using my card and he pointed to the $5 minimum + $1 transaction fee sign.

 

I thought it was $10 minimums that were allowed?Also, is the transaction fee allowed?

 

I hope you didn't buy. I would tell them, "No thanks" and take my business elsewhere.

[FlyingRon]

Or buy the pizza and complain to your credit card. I've never seen one that wouldn't rebate the buck. Don't know if they beat up the merchant or just eat it.

[Medion]

It sucks, but under a $10 purchase, the merchant may either refuse the transaction, implement a transaction fee, or a combination of two. At $10 or more, they may do neither.

[hegemony]

It sucks, but under a $10 purchase, the merchant may either refuse the transaction, implement a transaction fee, or a combination of two. At $10 or more, they may do neither.

 

that is why I give merchants a chance to take my subprime cash in the form a $100 if they choose to not remove the card transaction fee.

[stroked89coupe]

I had this happen the other day. 3.00 minimum when I was attempting to buy a gatoraid. Needless to say the drink sat on the counter as I walked off without saying a word.

[tophie]

It cost the merchant money to take your plastic, so I see no reason why there should not be a minimum in place or in the alternative charge you a little bit to take your plastic. No one should lost money to take a different form of payment. You could always pay with cash. If you don't like this, you could always complain to the banks for charging businesses to take credit cards in the first place and tell the banks that they should not charge businesses and it should be free.

[hegemony]

It cost the merchant money to take your plastic, so I see no reason why there should not be a minimum in place or in the alternative charge you a little bit to take your plastic. No one should lost money to take a different form of payment. You could always pay with cash. If you don't like this, you could always complain to the banks for charging businesses to take credit cards in the first place and tell the banks that they should not charge businesses and it should be free.

cash costs a lot too for the merchant. making change, trusting employees, theft, etc.

 

I have yet to have a merchant take my $100 subprime cash bill instead of my credit card.

[PhoenixDown]

 

It sucks, but under a $10 purchase, the merchant may either refuse the transaction, implement a transaction fee, or a combination of two. At $10 or more, they may do neither.

 

that is why I give merchants a chance to take my subprime cash in the form a $100 if they choose to not remove the card transaction fee.

 

 

LOL that is awesome, gotta remember that although I havent run into this issue yet.