Sorry for the lapse in the Learn One Thing series. It is really tough to write about one thing every day, along with all the other stuff I want to do in a day. Anyway, I just learned today that:
Businesses that accept Visa, MasterCard, and Discover aren’t allowed to set minimum-purchase policies (these credit card companies strictly forbid it)
American Express does allow it, but discourages the practice to keep customers happy. I think this is interesting because I know I’ve run across a few places (one local bar here in CT that I play darts at occasionally comes to mind) and think that it is unfair to have a $10 or $15 minimum charge, causing me to use their in house ATM machine if I don’t have enough cash on hand. Next time I’m in this situation though, I will know that technically they’re not allowed to utilize this practice, and try to get them to waive the policy. At least they accept credit cards, unlike a very popular pizza place we visited recently here in New Haven that many people claim has the best pizza. I guess people still go there despite this fact!
Source: Don’t Get Intimidated By “Credit Card Minimum Purchases” [Credit Card Outlaw] (via Lifehacker)