If having a minimum credit card purchase is illegal, how come so many of the tiny stores in New York City?
Answer:
All merchants do it, because you (the customer) never contact VISA or MasterCard to report them for violating merchant agreements that they signed.
Please refer to PAGE 10 of Merchant agreement. Feel free to present a printout of this to the local storeowners in violation.
Feel free to Call 1-800-227-6811 to report them.
Good luck.
IAsk,
It's not illegal. Businesses get charged a fee every time a credit card is used. The only way to recoup that fee is to have a minimum purchase. Either that or they charge you a dollar amount for using the credit card, which is higher than the fee.
They know it's too much of a hassel to report them, & if they get caught they get a warning and maybe loose their account with that bank. There's a line of banks waiting for their business so what the heck.
It is not illegal; it is, however, against the association (Visa, MasterCard) rules. If you report the store to Visa or MasterCard, they could lose the privilege of accepting that association's credit cards.
It's not illegal, but MasterCard and Visa PROHIBIT it. Merchants have an agreement with their card processing bank which specifies that this practice is prohibited. Merchants simply blow it off. You can try to fight with the merchant, but they will just tell you to shop elsewhere. By the way, it's everywhere - not just NY.
-MM
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