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Yes; the credit card companies charge the merchants in order to receive payments from them. In some cases (usually at small businesses or ones that do not do a lot of business monthly) the merchants can charge a small fee associated with using the credit card, or set a minimum amount to avoid the fee i.e. any purchase under $5 gets charged a fee, anything above that amount doesn't.
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Is it legal to charge customers a processing fee for using credit card in a restaurant?
Yes .
Is it legal to charge a cutomer a fee to use their credit card for a purchase?
Yes. It's called a convenience fee. Retailers that accept credit cards themselves incur either a charge for each card transaction or they pay a flat amount for unlimited transactions. It's an operating cost that is perfectly legal to divide and distribute among those who utilize the service. Manufacturers and retailers also frequently pass operating costs and other various expenses onto the consumer, but they are hidden in the price. With credit cards, it's nearly impossible to hide that fee in the price of whatever you're buying, because your total increases only after you pull out your credit card. eeee
You had a credit card which went in to collections in 2002 and was sold to another company - originally your debt was 2000 but now it is 5500 - Is this legal?
Is it legal? That depends on how they are calculating the $5500. The creditor is entitled to charge you whatever interest rate you agreed to pay in the credit card agreement.
Is it legal for a credit card company to charge 109.96 percent interest on a cash advance?
Credit card interest and fees are determined at the state level at present. Congress has passed a law which makes bait and switch tactics more difficult but legal interest ceilings are still a state matter.
Can a credit card company charge interest on interest?
No. A credit company can not charge you interest on top of interest. With that said if you have a balance of $1000 and the company charges you $20 interest for that month. Next month a new balance is created $1020 then the company can charge you interest on $1020.00 if you fail to pay the $20 interest at the minimum. Interest is a finance charge and so long it does go over 59.9 per cent it is legal even on closed accounts. This is called accrued interest. If your account is closed due to unforseen of financial circumstances contact the credit and work out a payment arrangement and request interest to be stop. Many creditors will do so if the amount is paid in a timely manner usual 6-9 months. Otherwise consumer proposal is an option.
Is it legal for merchants in Alabama to charge a credit card processing fee?
No.
What has the author Stanley Morganstern written?
Stanley Morganstern has written: 'Legal protection for the consumer' -- subject(s): Consumer protection, Law and legislation 'Legal regulation of consumer credit'
Is it legal to charge a credit card without authorization?
Yes, why not
Is it legal in the state of Pennsylvania for a private club to charge a convenience fee on a credit card charge?
It is legal, but against the Merchant Agreement that the club would of signed to process credit cards.
Can merchant charge fees on credit card?
It is legal in all states except the following:CaliforniaColoradoConnecticutFloridaKansasMaineMassachusettsNew YorkOklahomaTexas.However, Visa and Mastercard merchant agreements strictly prohibit merchants from charging an additional fee. American Express "discourages" charging additional fees.It is legal, however, to provide rebates for paying in cash rather than credit -- a loophole to the additional credit card surcharge issue.
Why do some companies charge different prices for cash and credit purchases?
Cash is an acceptable form of compensation to pay all debts, public or private, "legal tender". Credit is only an equivalent. Merchants charge higher prices for credit in order to defray some of the costs associated with accepting credit cards. A merchant (grocery store, shoe store, etc.) decides independently if they will accept credit cards as a form of payment for goods and services rendered. Once a merchant makes this decision, he/she must then pay a series of other businesses (equipment lease to swipe the credit cards, payment processor to coordinate the actual account debits and credits, etc.) a small amount for every transaction paid by credit card. Many merchants do not charge more to accept credit, as they consider it just another cost of business. Many merchants also do not charge more for credit card purchases because it is prohibited in their Merchant Agreement , and they could lose the entire ability to accept credit cards if they are caught doing it. Visa, however, does allow its merchants to offer a "cash discount" off the marked price, but not a credit premium, so the customer is never charged more than the marked price.
Is it legal to charge customers a processing fee for using credit card in a restaurant?
Yes .
Why does it cost more to buy items with cash or credit?
Cash is an acceptable form of compensation to pay all debts, public or private, "legal tender". Credit is only an equivalent. Merchants charge higher prices for credit in order to defray some of the costs associated with accepting credit cards. A merchant decides independently if he will accept credit cards as a form of payment for goods and services rendered. Once a merchant makes this decision, he must then pay a series of other businesses (the equipment lessor who provides the credit-card machine; the payment processor who coordinates the actual account debits and credits, etc.) a small amount for every transaction paid by credit card. Many merchants do not charge more to accept credit, as they consider it just another cost of doing business. Many merchants also do not charge more for credit card purchases because it is prohibited in their Merchant Agreements, and they could lose the ability to accept credit cards if they are caught doing it. Visa, however, does allow its merchants to offer "cash discounts" off the marked prices, but not a credit premium, so a customer is never charged more than the marked price.
Is it legal for a merchant to charge a fee for debit card purchases under 10.00?
it is illegal in my home state, however some merchants will do it anyway.
Is it illegal in Florida to charge a fee for using a credit card?
No, but it is legal to steal whatever you want.
Is it legal for a doctor to request a credit card number for their records to charge for missed appointments?
Yes.
Is it legal to charge customers for credit card expenses under five dollars?
Yes, the credit card business is a very serious business.
