New fees for credit card purchases

Posted at 12:46 PM, Jan 28, 2013
and last updated 2013-01-28 12:46:25-05

Stores are charging new fees that might have you choosing the debit option more often.

It's all part of a settlement between Visa, Mastercard, and several other banks.

Because of the settlement, stores can now pass on the fees the credit card companies make them pay. That means the customer could be charged 1.5 to 3 percent more on  purchases if they choose to charge it.

The fee doesn't apply to debit transactions. 

Mastercard says it doesn't expect most merchants to add the surcharge because they don't want to drive away business.