Business in Utah as well as in 40 plus states can now tack on a surcharge as much as four percent anytime you use your credit card.
That means a $200 digital camera will cost you an extra $8 if you use your credit card. And that’s before adding on sales tax.
“I don’t think it’s right because there’s so many different fees that people are paying already so I don’t think it’s a good fee at all,” says consumer Russ Erickson.
Walmart has already said it won’t be charging consumers saying they’re “not interested in surcharging consumers in order to allow credit card companies to continue charging unfair fees.”
And Target also won’t be applying the surcharge either.
“Target has decided that we’re not going to pass these onto our guests who come into our store,” says Kyle Booth of Centerville’s Target store. “It’s very important they have a good experience in our store and passing on more fees to them is not the right decision.”
Target like other stores who refuse to charge consumers will absorb the credit card charge. But in the long run it may mean new customers.
“I would shop somewhere else,” says consumer John Wallace. “I would find a place that wasn’t going to charge that four percent.”
Consumers must be warned about the surcharge. Under this new regulation businesses that do plan on adding on a surcharge must have signs posted at their store about the extra fee.