Consumers have to work hard to get the best price for the best quality item they can get--doing their research before buying; comparison shopping; checking out the company to buy from and keeping all necessary paperwork--here's another example of how consumers could lose money if they don't watch out: Stores can now charge consumer a "Check Out Fee" for paying for their purchase with a credit card. Stores have to pay the credit card companies, VISA, MasterCard, American Express, Discover and others, a percentage of the purchase (the percentage rate varies which is why some stores don't accept American Express, who charges a higher percentage rate) and they can now pass that fee on to the consumer. Some states have made these check out fees illegal: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas. Lucky you if you live in one of those states. The rest of us need to contact our state elected officials. In the meantime, here's what you need to know about these fees:
- The store can only charge what fee they actually pay to the credit card issuing company, usually 1.5% to 4%.
- The store must disclose if they are going to charge the fee, by a sign in the store or before you check out online. However, ask every time before you buy if they charge this fee--it's always easier to not pay, than to deal with a dispute.
You do not have to pay this fee--you can ask the store to discount the purchase price of the item or use your undeniable right as a consumer--walk out and don't buy from a store who charges those fees.
Check out
Consumer Action, a national non-profit consumer advocacy organization for more information on these fees.
