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    $10 minimum purchase to use credit card

    I walked into a store the other day and tried to use my credit card and was told I couldn't because the purchase wasn't $10 or more. When I said to the cashier that I thought it was illegal to do that (it has been in the past), she said that the law had recently changed. I did a bit of research and it seems she is correct. Federal consumer protection laws that deal with the use of credit cards, debit cards and banking have changed (or soon will depending where you live) so that the $10 minimum purchase is now legal to require as long as the policy doesn’t discriminate against one card or another.

    #2
    most stores do it to help cover the cost they pay for you to use a credit card.
    Gunga galunga...gunga -- gunga galunga.

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      #3
      Ugh!

      That's a bummer.

      I haven't found it to be an issue anywhere I spend less than $10. I just prefer not to carry and deal with cash. So if this becomes prevalent, it is going to really annoy me!

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        #4
        We a donut shop near our house AND they have a similar policy. Thank goodness my bank is in the same shopping center too...
        Got debt?
        www.mo-moneyman.com

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          #5
          wow. I've seen some at $2 or $2.50, but never $10. That's ridiculous.

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            #6
            I agree $10 is ridiculous. I manage a pizza shop and we use to add $1.00 to card purchases under $10.00 but it didn't last long. Was never really strictly enforced. We mostly only had it to try to prevent customers from trying to charge a soda or one slice of pizza, but too many people these days only carry cards. I have to admit I pretty much only have use my card.

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              #7
              I don't mind a minimum charge IF it is allowable by the credit cards and current law. What has always annoyed me is all of the places that have imposed a minimum when it was explicitly not allowed under merchant contracts or the law.

              I do use my CC for everything so a $10 minimum would be annoying. I pretty regularly charge purchases that are less than $10.

              On the flip side, our synagogue has been debating starting to accept credit cards for dues, donations, tuition and other payments however we can never figure out how to deal with the merchant fees. We are permitted to charge a "convenience fee" but it has to be a flat amount, not based on a percentage of the amount being charged, which would make a lot more sense. If we could charge a 3% fee on each transaction, we'd be fine. If, however, we can only charge a $5.00 per transaction fee, for example, we'd still be losing money when people made large charges and we'd be discouraging the smaller charges because the fee would represent too large a percentage.
              Steve

              * Despite the high cost of living, it remains very popular.
              * Why should I pay for my daughter's education when she already knows everything?
              * There are no shortcuts to anywhere worth going.

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                #8
                Originally posted by disneysteve View Post
                I don't mind a minimum charge IF it is allowable by the credit cards and current law. What has always annoyed me is all of the places that have imposed a minimum when it was explicitly not allowed under merchant contracts or the law.

                I do use my CC for everything so a $10 minimum would be annoying. I pretty regularly charge purchases that are less than $10.

                On the flip side, our synagogue has been debating starting to accept credit cards for dues, donations, tuition and other payments however we can never figure out how to deal with the merchant fees. We are permitted to charge a "convenience fee" but it has to be a flat amount, not based on a percentage of the amount being charged, which would make a lot more sense. If we could charge a 3% fee on each transaction, we'd be fine. If, however, we can only charge a $5.00 per transaction fee, for example, we'd still be losing money when people made large charges and we'd be discouraging the smaller charges because the fee would represent too large a percentage.
                DisneySteve my church has started this and they are charged a 3% transaction fee. Father wants us to be aware of that and add more to our offering. Ya I'll pass and keep writing my checks. I need so many a month for free checking anyway.ha

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