cashloyley asked:
I heard this was illegal. What’s the deal? I’m trying to pay somebody over the phone and they want to charge an additional 2%.
http://1mortgagecalculator.info
I heard this was illegal. What’s the deal? I’m trying to pay somebody over the phone and they want to charge an additional 2%.
http://1mortgagecalculator.info
If you are paying taxes by credit card, they can charge a fee.
If you are buying a widget, you will hit a stumbling block. US state laws and their credit card contract state that they cannot have a surcharge just because you paid with a credit card. They can, however, have a discounted price for cash purchases. (The laws are different in other countries.)
Logically the math works out the same, but the idea is that if they advertise a price as $100, they can’t claim after the fact that’s the discounted price and that you must pay $102 if you pay by credit card.
(Keep in mind, it *does* cost the seller money to accept a credit card. For small sellers this can make/break the profit on a sale. I generally don’t argue the point.)