If you own a Visa or Mastercard, be warned: new rules allow some merchants to start charging a surcharge on your purchases starting on Sunday.
The surcharge is supposed to equal the actual cost of processing the credit card transaction, which is typically 1.5 to 3 percent. Under the agreement, the fee is capped at 4 percent. The surcharge can vary based on the type of card. For example, it could be higher for a rewards card or premier card.
There are a ton of “but”s attached to this new charge. If a retailer also accepts American Express, they will not be able to apply the charge to Visa and Mastercards (AmEx doesn’t allow surcharges, and the retailers would have to uniformly apply the charges to all credit cards). Credit card surcharges are banned in the following states: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas. And the National Retail Federation claims that most large retailers (many of whom they contacted) would not be implementing the charge, at least in the short term (long term? Well, what do you think they’ll do… yeah, me too). Smaller retailers in the short term, however, may be another matter. FYI.
Source: NBCNews Business
Lose weight. Quit smoking. Exercise more. Finally conquer that irrational fear of clowns, once and for all. New Year’s is a perfect time to roll out the resolutions, those pledges to change something in your life, start anew, tabula rasa. Why not concentrate this year on a few frugal resolutions and get your financial house in order?
Even small changes to the way you do things in your life can add up to big savings, and more happiness. The following twenty frugal resolutions aren’t necessarily profound, but they’re all great steps towards saving more money in the New Year. Select as many as you want, physically write them down into a list, and tape it next to your bathroom mirror so you don’t lose track of them.