My understnding is that it is illegal to charge extra because someone uses a credit card. Is this true?
Below is the link to the school's website that asks for the charge.
http://www.pointpark.edu/default.aspx?id=2335
2006-10-24 12:41:45 · 6 answers · asked by onlyget1shot 3 in Politics & Government ➔ Law & Ethics
My guess is that the college is being charged by the third party who accepts the payments, and they are simply passing on that charge to you. Since the chargee is charged a fee by Visa or MasterCard many restaurants charge a percentage for allowing the customer to charge. No, its not illegal.
2006-10-24 12:57:11 · answer #1 · answered by Jo 2 · 0⤊ 0⤋
Not at all illegal - no different than gas stations giving a cash discount (very very common by the way). The reason for this is that the business that accepts the credit card has to pay a fee to the cc company (mastercard, visa, etc...) usually 3-4% of the transaction. Something like college tuition could create substantial fees.
2006-10-24 12:45:14 · answer #2 · answered by UNITool 6 · 0⤊ 0⤋
It costs them to use your credit card. Anywhere from 3% to 5%. For most merchants and service providers there is enough margin in the product or service to not worry about it. For your college apparently they don't want to eat 3% of your tuition.
2006-10-24 12:51:24 · answer #3 · answered by taotemu 3 · 0⤊ 0⤋
There are merchant fees for processing credit cards. They are passing it on to you - that's all.
2006-10-24 12:54:24 · answer #4 · answered by Paige2 3 · 0⤊ 0⤋
there is not any international-huge regulation that prohibits certainly one of those value. There are gas stations that do it oftentimes in my state. i do no longer understand in case your state legislature has enacted a regulation on the undertaking.
2016-10-02 22:21:31 · answer #5 · answered by ? 4 · 0⤊ 0⤋
It may be legal but it sounds unethical.
2006-10-24 12:53:29 · answer #6 · answered by tigerlilliebuick 3 · 0⤊ 0⤋