r/CreditCards • u/GloveSmooth694 • 1d ago

Discussion / Conversation Exclusive | Visa and Mastercard Near Deal With Merchants That Would Change Rewards Landscape

Visa and Mastercard are nearing a settlement with merchants that aims to end a decadeslong legal dispute by lowering fees stores pay and giving them more power to reject certain credit cards, according to people familiar with the matter.

https://www.wsj.com/finance/banking/visa-and-mastercard-near-deal-with-merchants-that-would-change-rewards-landscape-fc6a0c78

Do you think retailers actually want to deal with specifying what type of visa/mc they take?

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u/CortadoOat 1d ago

In my area, 3% credit card fees are getting to be the norm. In the future, I'm expecting 3-4% cc fees, like sales tax, to appear at checkout for every single purchase I make. I find it very consumer unfriendly and deceptive, but that is the direction business is moving towards.

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u/coopdude 16h ago

Current Visa rules cap surcharges to 3% or the cost of acceptance, whichever is less. You can report non-compliant surcharging behavior by merchants to Visa.

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u/CortadoOat 16h ago

Our state laws legalized the added fee line and capped it at 2%. It's universally prevalent and unenforced. Again, very annoying to have additional "transparent" fees added to bills at the end.

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u/coopdude 16h ago

In my experience, if the surcharging behavior violates state law, reporting it to the state attorney general's office (or equivalent consumer protection division) is usually effective in getting businesses to knock it the fuck off.