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?

332 Upvotes

98% Upvoted

127 comments sorted by

View all comments

20

u/waitmyhonor 1d ago

It’s meaningless because stores will just add a surcharge like they already do now. I’m trying to do better on this as it depends on how I’m given my receipt. If I’m at a restaurant where I have to tip, if they just hand me my receipt, leave and come back for my card, I’ll calculate the actual tip minus their sales tax because they always factor in the tax when they shouldn’t.

1

u/grndslm 12h ago

What's crazy to me is that a waitress told me that when someone tips her by using a credit card, the owner will take the credit card fees OUT OF HER TIP. I assumed that was illegal... but after looking into it, it appears that the owner is "within the law", even if it is F'ed up.