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Credit Card Surcharge to Take Effect January 27

As a result of a recent court settlement between retailers and the credit card industry, merchants can now pass along their payment processing costs to consumers who pay with a credit card beginning January 27, 2013. Please be advised that a merchant who chooses to exercise this surcharge, sometimes referred to as a "checkout fee," could subsequently increase your members' credit card purchase amount by as much as 4% (the maximum allowed).

Under the settlement:

Merchants are not allowed to impose a credit card surcharge in California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma or Texas, where such fees are prohibited under state law.

Visit knowyourcard.org for more information.