Tools

Colorado Consumers Avoid Brunt of New Credit Card Fees

by KREX News Room
by Meaghan Wallace

Story Created: Jan 29, 2013 at 12:15 PM MDT

Story Updated: Jan 29, 2013 at 12:15 PM MDT

DENVER - You could be hit with more credit card charges, now that two major companies are lifting their ban on surcharges.

Due to a settlement with Visa and Mastercard, the companies are now allowing retailers to charge customers surcharges of up to four percent.

According to our sister station KCNC, this charge is to cover the cost of processing a transaction.
Fortunately for Colorado residents, these surcharges are illegal under state law. No business located in Colorado can impose a fee.

However, you might have to pay it if they make a purchase online or on the phone with an out-of-state company where the fees are legal.

Merchants will be required to clearly post at their cash register or online if they charge the fee.

You have indicated this comment should be removed.

Close

The comment has been submitted for review. Thank you .

Duh said on Tuesday, Jan 29 at 5:42 PM

The "fee" is already figured into the price you pay. It would be nice if "journalists" and politicians had to actually understand economics.

Add a comment

Name:

Comment: 1000 Characters Left

KREX - News, Weather, Sports for Grand Junction | Montrose | Glenwood Springs - Coverage You Can Count On and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

Most Popular
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.
News Channel 5 Weather