You may soon be seeing more signs that read “$5 minimum on credit card purchases” at Vermont stores. Lawmakers have passed a bill allowing shops to set a minimum charge for debit and credit card purchases.
Although a lot of businesses have already been requiring a minimum charge it was not actually allowed. If customers had protested stores would have had to allow smaller purchases. Business say they lose money on those small purchases though because card companies charge high fees.
Gilles Moreau, who owns M&M Beverage Center in Barre, says he gets charged 17 cents for every debit card swipe and 10 cents for every credit card swipe. Plus, credit card companies collect a .08 percent fee on the total charge. Moreau says that makes it a real nuisance when people use their debit card for something like a single cup of coffee.