INDIANAPOLIS -
You could soon start paying more when you use your credit card to buy something.
The change comes after Visa and MasterCard settled a multi-billion dollar lawsuit with retailers over swipe fees. That's the cost stores pay to credit card companies every time you use your credit card.
Kroger told The New York Times that it is looking at charging credit card users more when they use their plastic to buy groceries. They're not the only stores considering the move.
The settlement gives stores the choice to charge up to 3 percent of what a customer spends when they use their credit card to pay.
"A lot of people don't carry cash," explained Alana Jones of shoppers' habits.
Why would they? Paying for something has become as easy as swiping a credit card and signing on the dotted line.
"It's a lot easier to have your credit card than it is to just have a bunch of cash," said shopper Emily Harr.
Some consumers, like Harr, said they'll go back to paying with cash if they're charged more to use a credit card.
"It's gonna add up and with the prices going all up in our economy, it's a lot harder to spend the extra money to use your cards then it is just to use the cash," Harr added.
"It's bad enough you get hit with ATM fees, to get hit with another fee when I use my card at a grocery store, it's just getting ridiculous," said Jones.
Jones said she already uses cash when she gets her eyebrows done. That's because it costs a dollar more if she pays with her credit card.
"It's just because I don't want to give them any extra money. If I give them extra money, it should be for a tip, not because I pay with my card," Jones added.
"The credit card companies are counting that people will just continue to use the credit card, even if there is a fee for it," said Paul Ramnarain with My Star Credit Counseling.
Financial experts say that's because going cashless has become a habit. It's a habit that's grown on stores, too. If people go back to using cash to avoid added fees, stores go back to handling more cash.
"Merchants don't want to handle cash again. They haven't handled cash and checks for so many years, do they really want to get into that?" explained Ramnarain.
They may not have a choice, though, if consumers reject the new fees and instead start paying the old-fashioned way.
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