Did you know that retailers are permitted to charge or surcharge up to 3 percent on your credit card purchases?   However, if a retailer imposes a surcharge, it must be clearly disclosed in the store and on your receipt.

These checkout fees may also give you a discount if you pay with cash. Retailers in CA, CO, CT, FL, KS, MA, ME, NY, OK, and TX are not permitted to charge credit card surcharges.

Retailers are also allowed to set a $10 minimum purchase amount for credit card purchases. However, they can’t charge fees or set minimum purchase amounts on debit card purchases.

For more information on credit card surcharges, go to http://www.knowyourcard.org.

Teaching Suggestions

• Ask students if they have personally experienced credit card surcharges on their purchases.
• Have students make a short presentation with a summary of what actions might be taken to avoid credit card surcharges.

Discussion Questions

1. Should retailers charge extra 3 percent surcharge when they display a sign “Your VISA and MasterCard are accepted here”?

2. What can you do to avoid credit card surcharges?