Credit Card Fees: Five Things You Should Know

5 Facts You Should Know About Credit Card Fees
FILE - This Sept. 5, 2007, file photo shows credit card decals on a store window in the Hollywood section of Los Angeles. isa, MasterCard and major banks agreed to pay retailers at least $6 billion to settle a long-running lawsuit that alleged the card issuers conspired to fix the fees that stores pay to accept credit cards. As part of the settlement, announced late Friday, July 13 stores from Rite Aid to Kroger will be allowed to charge customers more if they pay using a credit card. (AP Photo/Nick Ut, File)
FILE - This Sept. 5, 2007, file photo shows credit card decals on a store window in the Hollywood section of Los Angeles. isa, MasterCard and major banks agreed to pay retailers at least $6 billion to settle a long-running lawsuit that alleged the card issuers conspired to fix the fees that stores pay to accept credit cards. As part of the settlement, announced late Friday, July 13 stores from Rite Aid to Kroger will be allowed to charge customers more if they pay using a credit card. (AP Photo/Nick Ut, File)

Federal Reserve rules limit the penalty fees that credit cards charge. The rules, which stem from the Credit CARD Act signed into law in May 2009, were effective August 22, 2010, and are in addition to other rules, such as restrictions on interest rate hikes, that went into effect earlier.

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