Beware the new MasterCard and Visa surcharges starting this week

As if new ATM fees weren't enough, credit card companies have socked our pocketbooks again. Effective Jan. 27, you may now see up to a 4 percent surcharge on purchases you make with MasterCard, Visa or other credit cards. The penny-sucking new policies are the result of a class action settlement between big banks and merchants (i.e. supermarkets, gas stations, etc.). The latter won the right — in addition to a handsome $6.05 billion — to tack a surcharge onto customers' bills. There is some hope, as the add-ons will remain illegal in California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas. But if you're anywhere else, it may be time to revisit that cute mom and pop store with the "cash only" sign. [Source]

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