This is actually off topic but there is no place for it so I put it here. I think you all need to know about this.
Today I renewed my License Plate on my SUV. I tried to pay with a debit card I was told there is a uses fee of $2.50 if I pay with a debit card. So I ask what is a users fee. I was told the credit card company charges a fee of $2.50 to the merchant each time the debit or credit card is used and the State Of Tennessee REFUSES to pay the fee. If I am willing to pay the $2.50 fee then the State will take my credit card. So I paid with a personal check, I don't want to pay the fee either.
I have noticed from time to time an additional fee of $2.50 on my bill when I pay at certain places. I have always wondered what the extra fee is but never noticed it until it was too late to ask after I had already left the place of business. Appearantly some business are making me pay the fee and are not telling me about it.
I recently signed up for a debit card at my bank. The promotion was 7.5% interest on the money that is in the account but their are a few catches. I am required to use my debit card a minimum of 10 times per month to get the high interest rates. Now I understand why, the bank is making $25.00 a month profit for the use of my card. I used my card 34 times last month so the bank made $85.00 profit. I wonder how many times I had to pay the $2.50 fee and didn't know it? As it turns out the 7.5% interest rate was a promotion good only for the very first month. Last month I got 3.9% interest but only if I use the card 10 times per month. If I fail to use the card 10 times then my interest rate is 1.2% per month.
Next time you use your credit or debit card be sure to ask if you have to pay the users fee. Next time I notice a $2.50 user fee on my sale receipt I am going to tell them to reverse the charges so I can pay with cash.
Today I renewed my License Plate on my SUV. I tried to pay with a debit card I was told there is a uses fee of $2.50 if I pay with a debit card. So I ask what is a users fee. I was told the credit card company charges a fee of $2.50 to the merchant each time the debit or credit card is used and the State Of Tennessee REFUSES to pay the fee. If I am willing to pay the $2.50 fee then the State will take my credit card. So I paid with a personal check, I don't want to pay the fee either.
I have noticed from time to time an additional fee of $2.50 on my bill when I pay at certain places. I have always wondered what the extra fee is but never noticed it until it was too late to ask after I had already left the place of business. Appearantly some business are making me pay the fee and are not telling me about it.
I recently signed up for a debit card at my bank. The promotion was 7.5% interest on the money that is in the account but their are a few catches. I am required to use my debit card a minimum of 10 times per month to get the high interest rates. Now I understand why, the bank is making $25.00 a month profit for the use of my card. I used my card 34 times last month so the bank made $85.00 profit. I wonder how many times I had to pay the $2.50 fee and didn't know it? As it turns out the 7.5% interest rate was a promotion good only for the very first month. Last month I got 3.9% interest but only if I use the card 10 times per month. If I fail to use the card 10 times then my interest rate is 1.2% per month.
Next time you use your credit or debit card be sure to ask if you have to pay the users fee. Next time I notice a $2.50 user fee on my sale receipt I am going to tell them to reverse the charges so I can pay with cash.