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#3139228 - 01/25/13 04:18 PM New credit card charges.
dr
10 Point


Registered: 02/24/03
Posts: 4408
Loc: USA

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A new law, reported on Fox. Many stores, and gas stations will start adding 4% to purchases, if you select credit, which gets run through your card company. To avoid the fee, Dave Ramsey said to select debit, and enter your pin #. This will deduct the money straight from your account, like an ATM withdrawal.
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"Any man who thinks he can be happy and prosperous by letting the government take care of him --- better take a closer look at the American Indian." Henry Ford

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#3139238 - 01/25/13 04:26 PM Re: New credit card charges. [Re: dr]
Kimber45 Moderator
Peace Maker
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Registered: 07/10/08
Posts: 18625
Loc: Close to Jackson, TN

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So when did that start? Using your pin# in some places is not smart
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#3139264 - 01/25/13 04:45 PM Re: New credit card charges. [Re: Kimber45]
muddyboots
12 Point


Registered: 11/06/02
Posts: 7406
Loc: savannah, tn., usa

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They do it here. The only problem with debit is they decuct more than purchase and then refund the rest a few days later. My bank told me to run debit cards as credit to avoid that but now it is a charge to use a credit card so i guess i will go back to cash.
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#3139285 - 01/25/13 04:54 PM Re: New credit card charges. [Re: muddyboots]
William
TnDeer Old Timer
8 Point


Registered: 10/25/99
Posts: 1860
Loc: Kingston, TN

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Tennessee needs a law that prohibits credit card surcharges. New York, California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, Oklahoma and Texas already prohibit it.
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#3139294 - 01/25/13 04:59 PM Re: New credit card charges. [Re: William]
Mr.Bro
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Registered: 08/02/09
Posts: 2883
Loc: Hendersonville Tn.

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Most small business already add the surcharge to the price as listed.Just ask for a cash discount price.

I believe Guns and Leather gives discount for cash.3% if i remember correctly.
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#3139295 - 01/25/13 05:00 PM Re: New credit card charges. [Re: dr]
Vermin93
12 Point


Registered: 12/11/10
Posts: 6400
Loc: Dallas, TX & Signal Mtn, TN

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Good information and some advice here:

Credit card checkout fees - Consumer rights and retailer responsibilities
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#3139302 - 01/25/13 05:05 PM Re: New credit card charges. [Re: Vermin93]
encore06
16 Point


Registered: 12/08/06
Posts: 10723
Loc: Harrogate, TN

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 Originally Posted By: Vermin93


From the above link:

What are your rights and retailers’ responsibilities?
Checkout fees are only permitted on credit and charge cards, NOT debit cards.
Checkout fees are illegal and, therefore, not allowed in 10 states. The laws of each state would determine whether it would be legal for companies based in other states to charge residents of its state. Residents of these states who encounter retailer checkout fees can report them to the state attorney general. These states include:
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God Bless, Carl

Jer 29:11 For I know the thoughts that I think toward you, says the Lord, thoughts of peace and not of evil, to give you a future and a hope.

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#3139306 - 01/25/13 05:06 PM Re: New credit card charges. [Re: Kimber45]
dr
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Registered: 02/24/03
Posts: 4408
Loc: USA

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 Originally Posted By: Kimber45
So when did that start? Using your pin# in some places is not smart

I agree with using your pin, might have to go back to cash. It"s been on Fox news today, and was passed recently. The states mentioned in one of the above posts are exempt.
_________________________
"Any man who thinks he can be happy and prosperous by letting the government take care of him --- better take a closer look at the American Indian." Henry Ford

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#3139320 - 01/25/13 05:16 PM Re: New credit card charges. [Re: dr]
Vermin93
12 Point


Registered: 12/11/10
Posts: 6400
Loc: Dallas, TX & Signal Mtn, TN

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Thanks to competition, I don't think this will have a big impact. There was nothing keeping merchants from raising the price of their products a few percent to cover the fee they have to pay to the credit card networks. Now they can just cover those fees openly if they so choose. The important thing is having competition to keep the total cost of products (product price + sales tax + checkout fees) as low as possible.

Merchants like Buds Gun Shop have offered "cash discounts" for a while now. Same concept.
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"Florida State blew the coverage and they got rewarded for it.” Coach Brian Kelly

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#3139323 - 01/25/13 05:16 PM Re: New credit card charges. [Re: dr]
Bigg'un4214
10 Point


Registered: 05/10/04
Posts: 2681
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My bank is offering cash back on credit card purchases instead of debit card.
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#3139424 - 01/25/13 06:34 PM Re: New credit card charges. [Re: Bigg'un4214]
BlackBelt
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Registered: 08/09/08
Posts: 3296
Loc: SouthWest TN

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My small business gets charged a 3.5% fee everytime someone uses a card whether it's credit or debit. I absorb that fee and it's illegal to charge more for using a credit/debit card over cash.
So I've decided to just up all the prices (cash or card) to cover that fee.

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#3139431 - 01/25/13 06:42 PM Re: New credit card charges. [Re: muddyboots]
Bowdacious
Skillet
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Registered: 09/01/00
Posts: 16350
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 Originally Posted By: muddyboots
They do it here. The only problem with debit is they decuct more than purchase and then refund the rest a few days later. My bank told me to run debit cards as credit to avoid that but now it is a charge to use a credit card so i guess i will go back to cash.

My bank doesn't do that. I have never had a hold for more than the charge.
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#3139569 - 01/25/13 08:06 PM Re: New credit card charges. [Re: Bowdacious]
stickler
8 Point


Registered: 08/14/08
Posts: 1828
Loc: Seymour TN

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 Originally Posted By: Bowdacious
 Originally Posted By: muddyboots
They do it here. The only problem with debit is they decuct more than purchase and then refund the rest a few days later. My bank told me to run debit cards as credit to avoid that but now it is a charge to use a credit card so i guess i will go back to cash.

My bank doesn't do that. I have never had a hold for more than the charge.


If you look at the pump some gas stations say they can authorize up to 75 or 100 dollars. They authorize that amount but in the next day or so will release what you didnt actually spend.

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#3139570 - 01/25/13 08:07 PM Re: New credit card charges. [Re: muddyboots]
TAFKAP
14 Point


Registered: 11/06/09
Posts: 9856
Loc: Memphis

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 Originally Posted By: muddyboots
They do it here. The only problem with debit is they decuct more than purchase and then refund the rest a few days later. My bank told me to run debit cards as credit to avoid that but now it is a charge to use a credit card so i guess i will go back to cash.


Only at hotels, gas stations, and car rental places.....I can't think of any other debit purchases that require a "deposit" type of withdrawl. Prepaying inside the gas station with a debit card will also eliminate their "deposit"
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#3139624 - 01/25/13 08:41 PM Re: New credit card charges. [Re: TAFKAP]
huntinkev
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Registered: 11/23/06
Posts: 1662
Loc: East Tenn

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I haven't heard this. I know Dave Ramsey has always said to run your debit card as credit. You will get the protection from visa for anything fraudulant. I havn't listened to him in a few weeks on the radio though. I could have missed the news.
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#3139652 - 01/25/13 08:58 PM Re: New credit card charges. [Re: huntinkev]
RUGER Administrator
Bambi Killa
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Registered: 11/19/99
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Closest thing to a credit card I have is my debit card.
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#3139727 - 01/25/13 09:42 PM Re: New credit card charges. [Re: RUGER]
Bowdacious
Skillet
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Registered: 09/01/00
Posts: 16350
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I don't use those gas stations. \:\) If I am going to be traveling for weeks or shopping at several different stores, I get a prepaid debit card. If someone steals the number, they don't get much and have no access to my bank account.
_________________________
Disagreeing with me doesn't make me any less right

There is a difference between being proud and being conceited

Beware the skillet ---O

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