Understanding the difference between paying the minimum or statement balance can have a significant impact on the amount of ...

Generally, credit card charges can take several days to go through — which is when they’re pending. But merchants may also place “holds” as a type of security deposit.

If you pay a 1.4-per-cent fee on credit card transactions, you cancel out the value of that average reward. Some cards offer higher reward rates that will exceed surcharges, Mr. Sojka noted.

📢Starting Oct. 19, Canadian #smallbiz will save up to 27% on credit card fees. That means more money for businesses like Farmhouse Artisan Cheese in #Oakville to increase their growth and ...

A surcharge is a fee that a merchant may add to a transaction when you pay by credit or debit card. This fee is usually a percentage of the transaction amount and is capped at 2.4% in Canada.

Still, credit-card fees have led to disputes between card companies and retailers. In 2016, Wal-Mart Canada stopped accepting Visa cards at stores in Thunder Bay and Manitoba for several months.

While credit cards account for 31 per cent of retail transactions, according to the Bank of Canada, only five per cent of merchants prefer them as a method of payment.

What is the CCCA trying to accomplish? To accept your credit card, merchants need to pay card transaction processing fees, or swipe fees, which cut down on the money they receive from a sale. For ...

Debit and credit cards have very different limits as well. You can only use a debit card up to the amount of cash in your account – or even less if your card has daily transaction restrictions.

Pending credit card transactions are somewhat of a gray area — they can appear on your statement and temporarily reduce your available credit, but they’re not added to the balance.