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You are here: Home Credit Cards Latest News Minimum Purchase rules unlcear

Minimum Purchase rules unlcear

Minimum Purchase rules unlcear

The practice of setting minimum amounts for a credit card purchase is against the international regulations set by Mastercard and Visa.  

 

The practice of setting minimum amounts for a credit card purchase is against the international regulations set by Mastercard and Visa.

While it is common to see signs saying that card transactions must be more than $10 or $20, rules issued by the credit card companies clearly state that merchants are not allowed to set a minimum level for transactions.

 However a spokesman for Visa told the Sydney Morning Herald that the company had no direct relationship with merchants and that it was a matter for the merchant and their banker to decide

 

Friday, 04 January 2008 12:00
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