Jan 28, 2013 8:00 PM by Danielle Lerner
TUCSON - Using that Visa or Mastercard could cost you more on your next purchase. Merchants can now pass along a surcharge as high as four percent. It all stems from a class action settlement last July. It is a way for merchants to recoup some of the fees credit card companies are charging them. Consumers are not too happy about it and that is why many businesses are choosing to forego the extra fee.
Posner's Art Store on University Boulevard will celebrate its 100th anniversary this year. The small, family-owned business has certainly seen its share of economic ups and downs.
"We pay a percentage fee for each credit card that goes through," said Jenny Marshall, whose parents own the store.
Posner's already requires a $5 minimum for credit card purchases and Marshall fears adding a four percent surcharge may send customers and University of Arizona students like Craig Sheldon and Sean Jackson elsewhere.
"Probably go search online, talk to my peers to see if I should really go to this place or find other places that won't charge that four percent extra," said Jackson.
"Probably make me want to go to the ATM more and get cash instead of just swiping the card," Sheldon said.
Posner's is not the only one shelving the surcharge. In fact the National Retail Federation found none of its members plan to pass it on to shoppers.
"We want to be customer friendly and times are hard for everybody," Marshall said. "It would probably help to increase profits but like I said I don't think it's the way to go."
"That is extra money and you always want to have that extra money in your pocket," said Jackson.