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Would You Pay a Surcharge for Using Your Credit Card? — Survey of the Day

Credit Cards
Phillip Taylor, Flickr

When you use plastic to make a purchase, the credit card company bills the vendor a surcharge between 1.5 and three percent.

Previously, Visa and MasterCard had banned vendors from passing on any of the fees to the customer, but thanks to the settlement of class-action lawsuit it looks like vendors will soon be able to charge customers some of this “swipe fee.”

But would you pay it?

According to a new survey from Creditcards.com of 1,005 adults, 65 percent of Americans who use credit cards would find another way to make their purchases if any of the swipe fee was passed on to them. When specified that the fee would be two percent, only two percent of respondents answered that they would be willing to pay it.

[Fox Business]

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