Have you heard about the new credit card swipe fees? They went into effect on Sunday, January 27th. Now retailers have the option of passing on credit card swipe fees to consumers. A swipe fee is the cost retailers pay every time you use your credit card.
This means that you could pay an additional 1.5% – 4% on your credit card transactions. The key word to remember here is could, because it’s at the retailer’s discretion to charge a swipe fee (also known as “checkout fee”). [Read more…]