Every time you use your credit card at a retail store, the merchant is charged a small fee for the convenience of offering customers the ability to pay via card. That charge, known as the interchange fee, is set by the credit card companies and can negatively impact profits for a small business. In most states, that charge is absorbed by the business, but now, a federal law permits storekeepers to pass that fee along to consumers during the transaction process.
Find out if these added charges are permitted in your state – or if you’re off the hook.
