Federal guidelines cap surcharges at 4%, and Nevada's Attorney General reinforces these standards. AG Ford also explains: “The surcharge may not exceed how much the merchant pays to accept the card.” In other words, if a merchant discount rate (MDR) is lower than 4%, the surcharge cannot exceed the MDR.
10 Things To Check In Your Credit Card Statement Statement date. Understanding your statement date is like getting the key to your financial diary. Payment due date. Billing cycle. Grace period. Transaction details. Total amount due. Minimum amount due. Credit limit availability.
Surcharges must not be more than the amount that it costs a merchant to accept a particular type of card for a given transaction. For example, debit cards are typically less expensive for merchants to accept than credit cards.
If credit card processing fees are cutting into your business's bottom line, it could be worth charging them to your customers. It's legal for business owners to do this — in most instances. Here are four options for passing along card fees, as well as the rules you should know for each.
Legal Action: If the debt is valid and within the statute of limitations, collectors can file a lawsuit to seek a judgment against you. If they win, they may pursue wage garnishment or other lawful methods of collection, within Nevada's limits.
It's usually safer to apply for a credit card online if you're on a credit card issuer's official website and using a secure internet connection. Some credit card issuers have stringent security measures designed to help protect applicants' personal information.
Physical credit authorization forms have many security issues: They may get lost, stolen, or mishandled by employees. Having to type data manually may lead to errors and financial discrepancies. Physical forms are not encrypted, meaning anyone can read and understand the information.
Authorized users aren't legally responsible for the charges they add to an account. That's different from joint accounts or loans with co-signers. Adding an authorized user may help the user build credit and learn about using a credit card responsibly.
PCI DSS requirement 4.2 states that credit card information must not be captured, transmitted, or stored via email.
There are situations where you want to store credit card numbers to keep, for example, proof of written authorizations for mail-order payments or recurring payment authorizations. Keep paper documents with credit card numbers locked in a secure place (like a safe) when not in use.