New fees could be on the horizon just for using credit cards - KOTA Territory News

New fees could be on the horizon just for using credit cards

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When using credit card, people in KOTA Territory now might have more to worry about than just the interest rate.

Retailers can now charge you a fee, of up to four percent, for just for the convenience of swiping the card.

Experts say it will probably be only be smaller retailers willing to use the charge. Major retailers, including Walmart, have been outspoken about not passing new fees onto its customers.

South Dakota, Nebraska, and Wyoming are included among the 40 states where this new law is in effect. However, stores have to make sure you know about the fee before you pay it.

"When you walk in, there has to be a sign conspicuously displayed indicating that they do surcharge. Then at the cash register and on the receipt, they have to clearly disclose what the surcharge is," said Adam Levin, Chairman of Credit.com.

The new fee only applies to credit card purchases. Rules for debit card purchases that use a pin number are different.

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