10-18-2012 05:08 AM
If this is not the correct forum section for this question, please move it to the correct section.
If a business displays/advertises that they accept Visa/MC/AMEX/Discover, can they refuse to take said cards as payment and demand cash only at the time of the sale?
10-18-2012 05:25 AM
Is there a problem with their registers? Phone lines/System? Credit card machines?
I've had businesses say they couldn't accept cards at that time for whatever reason and could only take cash. If I didn't have the cash on me then I'd just go somewhere else. Not that big of a deal.
10-18-2012 05:41 AM
If its temporary as the system is down, probably.
If they have a minimum for credit cards, then no, they are not alowd to do that
10-18-2012 06:06 AM
I did forget about the minimum most have now....but it seems i'm always over that anyway.
10-18-2012 06:17 AM
I'm seeing more and more businesses not accepting credit cards. We frequent a local restaurant that only accepts cash and personal checks.
10-18-2012 06:29 AM
yse they can put minimums, and heres how it breakdown by network:
Visa: Max of 10.00$ minimum on Credit Cards, no minimum on Debit Cards
Mastercard: no Minimums
American Express: Merchant can enact minimums as long as its the same for all networks
Discover: no regulation
10-18-2012 08:46 AM - edited 10-18-2012 08:47 AM
Businesses can now put minimum purchase limits for cc because of Dodd Frank
That's only $10 max for credit card, no minimum for debit card.
OP to your question, yes a business can refuse to accept your card even when they advertise such. As long as their reason to do so is not in violation of minimum purchase limit.
10-18-2012 08:49 AM
What I find confusing is when a businesss posts on theier website that they require ID when using a credit card when they are not really suppose to ask for ID
10-18-2012 11:03 AM
Just to add to the info above about min purchases etc., they can't pick and choose, such as they cannot decide to refuse Visa sig due to a higher swipe fee.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO