July 14, 201214 yr One thing I always hate in Thailand is being charged an additional 2.5 or 3.0 percent for using a credit / debit card as opposed to paying cash. If I read this settlement right, it may mean that USA merchants will have the opportunity to do this as well. http://www.nytimes.com/2012/07/14/business/mastercard-and-visa-settle-antitrust-suit.html?hp
July 14, 201214 yr Active Members Maybe. If so then I'll go back to cash. That is how it worked most of my life. I admit it will be less convenient for most so they will undoubtedly stick with the cards. For me now that I'm retired, I'm seldom somewhere when I need cash on the spur of the moment. And my bank has an ATM down the street and around a corner from my driveway. So an easy stop whenever I go anywhere.
July 14, 201214 yr If it does come to that - and I truly hope it doesn't - I can see some retailers advertising that they DO NOT levy credit/debit card fees, thereby luring customers away from those establishments who do. They would get my business for sure! Another possible outcome could be for merchants not to charge it but recover the costs by increasing the price of the goods they sell. I would hate to return to paying cash. Inconvenient, never seem to have enough in my wallet and harder to keep track of what you are spending. With credit/debit cards you get a monthly breakdown of where the $$$ went.
July 20, 201214 yr An auction house I sometimes frequent charges a 20% buyers fee but knocks off 3% if you pay by cash or check.
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