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  2. How does my credit card payment get allocated? - AOL

    www.aol.com/finance/does-credit-card-payment...

    The Credit CARD Act of 2009 standardized the allocation of credit card payments among different balances. Card issuers must allocate credit card payments above the minimum payment according to the ...

  3. Interchange fee - Wikipedia

    en.wikipedia.org/wiki/Interchange_fee

    These fees are set by the credit card networks, [1] and are the largest component of the various fees that most merchants pay for the privilege of accepting credit cards, representing 70% to 90% of these fees by some estimates, although larger merchants typically pay less as a percentage. Interchange fees have a complex pricing structure, which ...

  4. Can a business charge for using a credit card? - AOL

    www.aol.com/finance/business-charge-using-credit...

    Whenever a merchant accepts a credit card payment, ... Credit card surcharges can’t exceed the cost of accepting the card or 4 percent, whichever is the lower amount, even if it costs the ...

  5. Credit CARD Act of 2009 - Wikipedia

    en.wikipedia.org/wiki/Credit_CARD_Act_of_2009

    Credit card companies must apply payment amounts "in excess of the minimum payment amount" to a consumer's highest interest rate balances first. Statements must show consumers how long it would take to pay off their existing balance if the consumer made only the minimum payment, and must show the payment amount and total interest cost to pay ...

  6. Payment card interchange fee and merchant discount antitrust ...

    en.wikipedia.org/wiki/Payment_Card_Interchange...

    Tom Robinson, chairman of NACS and president of Robinson Oil, said, "This proposed settlement allows the card companies to continue to dictate the prices banks charge and the rules that constrain the market including for emerging payment methods, particularly mobile payments. Consumers and merchants ultimately will pay more as a result of this ...

  7. Surcharge (payment systems) - Wikipedia

    en.wikipedia.org/wiki/Surcharge_(payment_systems)

    A surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card or debit card (but not cash) which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [1]

  8. Fair Credit Billing Act - Wikipedia

    en.wikipedia.org/wiki/Fair_Credit_Billing_Act

    The Fair Credit Billing Act (FCBA) is a United States federal law passed during the 93rd United States Congress and enacted on October 28, 1974 as an amendment to the Truth in Lending Act (codified at 15 U.S.C. § 1601 et seq.) and as the third title of the same bill signed into law by President Gerald Ford that also enacted the Equal Credit Opportunity Act.

  9. Payment card - Wikipedia

    en.wikipedia.org/wiki/Payment_card

    The cardholder can either repay the full outstanding balance or a lesser amount by the payment due date. The amount paid cannot be less than the ”minimum payment,” either a fixed amount or a percentage of the outstanding balance. Interest is charged on the portion of the balance not paid off by the due date. The rate of interest and method ...