More Stores Requiring Minimum Purchase to Use Debit Cards

More Stores Requiring Minimum Purchase to Use Debit Cards
News

POSTED: Wednesday, January 11, 2012 - 5:52pm

UPDATED: Tuesday, March 27, 2012 - 8:35am

You may want to have at least $5 in your pocket at all times.

More and more places are requiring a $5 or $10 minimum purchase to swipe your card. That means if you're buying less than the minimum, you'll need cash.

Credit and debit card companies charge a store what's called a "swipe fee" each time somebody uses a card, that's why they ask for a minimum purchase.

Comments News Comments

Thanks to Obamanomics we are now being forced to use cash or else....swipe fees. Obama hasn't gotten one thing right.

You mean Like a $100.00 miniumn hold on your Debit card purcahes for ?25.00 usage.

"Stores arent allowed to set a “minimum purchase” amount.Lauren Zeichner, an attorney with Consumer’s Union...says that by law, you’re allowed to charge any amount on your credit card - even a penny. Since retailers have to pay a fee on credit card transactions – they want you to spend more to offset that charge....You’re allowed to charge as little as you want, no matter what the store says. So if a retailer tells you otherwise, call your credit card company–they’ll want to know. (John Tesh)

Post new Comment