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Does the $10 minimum purchase apply to just credit cards but not debit cards?

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#1 groze

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Posted 24 April 2012 - 07:48 AM

Does the $10 minimum purchase apply to just credit cards but not debit cards?


You may need to scroll down.

I’ve been to multiple party stores in this area and they all seem to have this $5 or $10 minimum to use your debit card. ... I’m wondering if this is a legal practice in the state of Michigan. And if it isn’t, why aren’t we doing anything about it?

A 2010 federal law allows merchants to set minimum purchase amounts (up to $10) for credit card transactions, but not for debit cards. If a store adds minimums or “processing fees” or other requirements to a debit card transaction, it is violating its agreement with the card issuer, that is with Visa or MasterCard. In theory, you could complain to those companies.

A debit card can be run through as a signture transaction (Credit side) if it has a Visa or Mastercard symobol on the card. It can also be run through as a pin transaction (Debit side). Both methods come out of your checking account.

So, does that mean merchants must allow all purchase under $10 with a debit card even if it run through as signature transaction (Credit side)?

The editor could be wrong.

Edited by groze, 24 April 2012 - 07:57 AM.

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