Retailers may decide to charge these fees to help offset the credit card processing fees they have to pay. In some states, however, it’s illegal for businesses to pass credit card processing fees on to the customer. Keep reading to learn more and see which states have put an end to this practice. Apr 5, 2021
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- Is it legal to pass on credit card fees to customers? Credit card surcharges are optional fees added by a merchant when customers use a credit card to pay at checkout. Surcharges are legal unless restricted by state law. Businesses that choose to add surcharges are required to follow protocols to ensure full transparency. 6 days ago...
- Is it better to have a 0 balance on your credit card? The standard recommendation is to keep unused accounts with zero balances open. A zero balance on a credit card reflects positively on your credit report and means you have a zero balance-to-limit ratio, also known as the utilization rate. Generally, the lower your utilization rate, the better for your credit...
- Can you purchase a car with a credit card? While it may be unconventional to the average consumer, there is nothing that legally prevents you from buying a car with a credit card. As long as your credit limit is high enough, you can put down a down payment or even a complete purchase with enough available credit. Apr...
- Can you put a down payment on a car with a credit card? It’s possible to make a car down payment with a credit card. … Others accept credit cards but charge a fee for the transaction. Plus, if your dealer is willing to take a credit card for a down payment, it will only work if you have a high enough credit...
- Can I put a down payment on a house with a credit card? You cannot use a credit card for a down payment on a house. … Mortgage lenders typically require down-payment funds to spend at least 60 days in a bank account to get “seasoned.” Besides, credit card limits generally are not high enough to accommodate a down payment for a house....
- Can you buy a house using credit card? Yes, it is absolutely possible to buy a house with credit card debt. And by lowering your debt-to-income ratio before you apply for a loan, you may qualify for a better interest rate, too....
