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Attorney General warns about credit card surcharges

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Credit Card
Credit Card

LANSING, MI (WTVB) - Michigan Attorney General Bill Schuette has issued an alert advising consumers to be mindful of changes to credit card surcharge rules.  The AG says as the new rules take effect, it's important to make sure that consumers are well-informed.  He says, quote, "Retailers are now permitted to charge new fees to MasterCard and Visa cardholders, but they must post notices and follow strict guidelines if they choose to collect the fees." The surcharge is intended to equal the actual cost of processing the credit card transaction, which is typically between one-point-five and three-percent.

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