New Credit Card Fees Kick in Sunday
Found on ABC News on Saturday, 26 January 2013
Starting Sunday, paying by credit card could get more expensive. Under the terms of a $7.2 billion settlement reached last summer between credit card companies and merchants, merchants will be free to impose a surcharge on customers paying by credit card.
How big a surcharge depends on how much the merchant pays in processing fees, but the amount legally permissible will be between 1.5 percent and 4 percent of your purchase price.
Paying in cash is better. You actually hand over the money what gives you a better understanding of your finances compared to a plastic card which is the same for $0.01 and $1000. Also rumours say that governments want you to pay with your credit cards because this makes all your transactions traceable. Actually it's not much of a rumour because the FBI already assumes you're a potential terrorist if you pay with cash.