Home Mail MemberMap Chat (0) Wallpapers
Go Back   ChiefsPlanet > The Royal Lounge

Reply
 
Thread Tools Display Modes
Old 01-27-2013, 04:58 PM  
3rd&48ers 3rd&48ers is offline
Molôn Labé
 
3rd&48ers's Avatar
 
Join Date: Sep 2001
Location: North Carolina
Casino cash: $10254
Be on the lookout for new credit card ‘checkout fees’

NEW YORK (CNNMoney) — You might want to think twice before whipping out your credit card. As of Sunday, stores in most states could start charging you a “checkout fee” when you pay for something with plastic.
The new fees stem from a multi-billion dollar settlement announced in July between credit card issuers and millions of merchants.
Visa, MasterCard and nine major banks agreed to a $7.25 billion deal to settle charges that they were fixing credit card processing fees. As part of the settlement, credit card issuers said they would reduce these “swipe fees” — fees paid by merchants to issuers when cards are used — but only for eight months.
In addition, the settlement also gave retailers the option to tack on a surcharge if a customer uses a credit card. The retailer can only charge enough to cover the processing costs, which is about 1.5% to 3% of the total purchase, according to watchdog group Consumer Action.
Although 10 states currently have laws restricting these types or checkout fees, North Carolina is not one of them.
Many big players in the retail industry have been up in arms about the settlement. Stores from the nation’s largest retailer down to small businesses have lamented the agreement, claiming that it transferred the wrongdoings of credit card issuers to the consumer.
In November, the National Retail Federation and more than a dozen retailers asked a judge to reject the proposed settlement. In a brief submitted to a U.S. District Court judge in Brooklyn, N.Y., the trade organization wrote that the new fees threaten a merchant’s ability to keep prices low for customers.
Wal-Mart, Macy’s, JCPenney, Limited Brands, Gap Inc. and The Neiman Marcus Group were among those who joined the NRF in claiming that “raising consumer prices by adding an ‘interchange tax’ is no remedy for Visa’s and MasterCard’s continuing monopoly abuse.”
In a separate statement, Wal-Mart said that it would cost consumers “tens of billions of dollars each year.” Target called the agreement “bad for both retailers and consumers.”
Merchants have a choice as to whether to implement the surcharge, but it poses quite a dilemma for them: Either get stuck footing the bill for the swipe fees, or risk transferring the cost to customers in an already competitive environment.
Last summer, Target said it had no interest in charging customers who use credit cards more “in order to allow Visa and MasterCard to continue charging unfair fees.”
Smaller merchants echoed these concerns over the deal, saying it doesn’t go far enough.
MasterCard said it doesn’t expect most merchants to put the surcharge into effect, since stores won’t want to drive away business.
“We anticipate that they will not impose checkout fees, particularly because the value merchants derive from card acceptance far exceeds their costs,” the credit card company said in a statement.
Credit: CNN.
http://myfox8.com/2013/01/27/be-on-t...checkout-fees/
Posts: 19,190
3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.
  Reply With Quote
Old 01-27-2013, 06:12 PM   #16
3rd&48ers 3rd&48ers is offline
Molôn Labé
 
3rd&48ers's Avatar
 

Join Date: Sep 2001
Location: North Carolina
Casino cash: $10254
Quote:
Originally Posted by bevischief View Post
So where is all this this change? So far it has cost me more money.
It's already costed everyone more money , businesses don't absorb costs... The prices go up for everyone to cover the fees
Posts: 19,190
3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.3rd&48ers has enough rep power to blowy ou to bits.
  Reply With Quote
Old 01-27-2013, 06:16 PM   #17
mikeyis4dcats. mikeyis4dcats. is offline
Scarlett Johansson's boytoy
 
mikeyis4dcats.'s Avatar
 

Join Date: Nov 2006
Casino cash: $6918
Quote:
Originally Posted by Guru View Post
Not many good reasons for being stuck in Kansas but this one actually helps.

Have to keep an eye on the internet purchases though.
I am curious as to how that works. Is the sale considered made in Kansas, or elsewhere? Since they are supposed to collect Kansas tax if they have a physical presence, it would seem it should fall under Kansas law.
__________________
Originally Posted by KC_Connection
I am a pillowbiter.

Posts: 9,723
mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.mikeyis4dcats. Forgot to Remove His Claytex and Got Toxic Shock Syndrome.
  Reply With Quote
Old 01-27-2013, 07:02 PM   #18
DRU DRU is offline
To the Game
 
DRU's Avatar
 

Join Date: Oct 2003
Casino cash: $6401
The Durbin Amendment is what was passed to make these changes. If you want all of the actual details read this: http://www.nerdwallet.com/blog/banki...ent-explained/
__________________
PayPal Partner and Certified Developer
Posts: 1,753
DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.DRU would the whole thing.
  Reply With Quote
Old 01-27-2013, 07:12 PM   #19
KCUnited KCUnited is offline
Armed and Using
 
KCUnited's Avatar
 

Join Date: Nov 2007
Location: Harms Way
Casino cash: $9417
Quote:
Originally Posted by sedated View Post
I guess they arent illegal in MO, because The Quaff has charged me an extra $1 for using my card for a few years now.
Lol, them waitresses have been charging a lot more than that on a lot of people's cards for years.
Posts: 13,098
KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.KCUnited is obviously part of the inner Circle.
  Reply With Quote
Old 01-27-2013, 08:02 PM   #20
suzzer99 suzzer99 is offline
MVP
 
suzzer99's Avatar
 

Join Date: Jan 2010
Location: LA
Casino cash: $9241
I need AustinChief to tell me how this affects my liberties before I know how to feel about this.
Posts: 5,514
suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.suzzer99 Forgot to Remove His Claytex and Got Toxic Shock Syndrome.
  Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump




All times are GMT -6. The time now is 10:56 PM.


This is a test for a client's site.
A new website that shows member-created construction site listings that need fill or have excess fill. Dirt Monkey @ https://DirtMonkey.net
Powered by vBulletin® Version 3.8.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.