New York’s Credit Card Revolution: Say Goodbye to Hidden Fees
Credit Card : Extra fee
Now a days everyone use Credit Card for shopping , fuel , and many things. Some times we have to pay extra fee for using credit card. Some shopkeepers and Storekeepers take extra price for using credit card. But now all these things end because New York shops must now show the extra fees if you use a credit card.
Credit Card : New Rule
A new rule started on Sunday in New York , that makes stores tell customers exactly how much more they’ll pay if they use a credit card. This law is to protect consumers , so stores can’t just put up a sign saying there’s an extra fee for credit card payments and it also stops many frauds. Now, stores have two options: they can either show the higher price for credit cards next to a lower price for cash, or they can just set all the prices to the credit card price for everyone. This law benifits everyone and by this it shows more transparency.
Credit Card : Bill & Debit Card
The law was signed by Governor Kathy Hochul, who is a Democrat, last year to make sure people in New York don’t face surprise fees when using credit cards. She also said, “New Yorkers should never have to deal with hidden credit card costs, and this law will ensure individuals can trust that their purchases will not result in surprise surcharges.” Everyone welcomed the law. This rule doesn’t apply to debit cards. It also sets a limit on how much extra stores can charge for credit card payments – only as much as the businesses are charged by the companies that process the transactions. The Partnership for New York City, a group that helps businesses, supports this rule. They say it will make customers trust businesses more, and that’s good for everyone in the long run.