Beware of new credit card fees

TERRE HAUTE, ind. (WTHI) - You see them everywhere, but now every swipe in a credit card machine you might be paying a little more.
     
Surprisingly, Justin McAdam doesn't have an issue with it.

"If they want to make that deal with gas payers or other providers than that's their business, not mine," said Justin. "If I'm not happy with it, i should go to someone else."
     
Every time you checkout using your plastic, the business only gets about 97 percent of that sale. The rest goes to the credit card company.
     
Starting this week, stores can now add that remaining percentage on top of your bill.

"ISU when collecting tuition, it's no different," said Dr. Robert Guell, a professor of economics at Indiana State University. "If you want to pay your tuition on a credit card, ISU will take the credit card but you'll pay that extra three percent as an extra cost."
     
While some businesses might not add the fee, Dr. Guell expects places to cover their overhead cost one way or another.

"Whether it shows up on the ticket or whether it doesn't show up on the ticket, Walmart is going to charge it's customers for it's cost, one of which is collecting money from the credit card companies," said Dr. Guell.

However, there could be a deal in all these terms and conditions.

"If this means more small businesses are going to be able to offer credit card services than that's probably a boom for them because now i can shop there without having the hastle of going to get cash or getting my checkbook," said Justin.
     
All of this meaning there's a new question of paper or plastic     

It is important to note that these new fees do not apply to debit cards.

Ten states have laws banning businesses from adding these credit card fees. Neither Indiana or Illinois are on that list.
     
News 10 spoke with both Indiana representatives Clyde Kersey and Kreg Battles.
     
Both men said they would be in favor of laws to prevent businesses from adding these surcharges.

Walmart, Target, and Macy's say they do not have plans at this time to add the new fees.