February 4, 2013

New Fees for Using Credit Cards

New checkout fees for using credit cards may be coming soon.

The credit card fees lawsuit settlement will result in – potentially more charges for consumers to use credit cards.

Via Dwolla 
If they choose to, merchants can now charge customers a checkout fee for paying with a credit card. These fees typically range between 2-3% of the purchase total, but can be as high as 4%.
Some merchants may choose to absorb these fees but many smaller merchants won’t and will charge the consumer a checkout fee.

If you want to avoid these fees, you can use a debit card, as it will not have this charge.

Another alternative for merchants is to use the Dwolla payment network, which has a flat $0.25 fee per transaction.

Tags: credit card checkout fees, new credit card charges, new credit card fees