Who's For Paying More?
Let's take a quick vote. How many consumers are in favor of surcharges just for the convenience of using a credit card? Anybody? That's what we thought.
The European Union and the United Kingdom agree with that assessment. New rules from the British government will soon prohibit retailers from charging customers extra for paying for their purchase with a credit card. The UK rule stems from an EU directive set to take effect on January 13, 2018, and, according to the UK Treasury Ministry, British consumers could save a sizable portion of the millions of pounds spent annually on card surcharges.
Calling credit card surcharges "rip-off charges", Economic Secretary to the Treasury Stephen Barclay said that such charges "have no place in a modern Britain." Do they have a place in a modern America? Some states already say no, but the situation is not straightforward – and, despite Barclay's comment, lack of surcharges does not g...
from MoneyTips https://www.moneytips.com/todays-headlines-should-the-us-ban-credit-card-surcharges/560
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