Retailers Ready To Force Consumers To Pay ‘Swipe Fee’ For Using Plastic
Every time you use your credit card, the store pays up to 3 percent of your total purchase to the credit card company. It’s called a “swipe fee” and now some fed-up retailers are getting ready to pass this cost on to you, in the form of a surcharge.
While others want to reward you for paying with cash.
Paper or plastic? It’s a simple choice, but it’s about to get a lot more complicated, CBS 2’s Emily Smith reported.
“You’re going to start to see retailers really weighing what they’re going to charge consumers for using a credit card,” said Kelli Grant of Smart Money magazine.