Credit Card Association Rules

Check with your credit card company regarding their individual rules.

Each credit card association sets its own rules regarding how customers and merchants can use their cards. Do not assume that one association's rules apply to another association's card -- always check with the company first.

Minimum Purchases

Visa and MasterCard do not allow merchants who accept their cards to demand a minimum purchase amount from customers. Unfortunately, merchants often break this rule, and many have signs in front their registers stating that a minimum amount must be spent to use a credit card at their store.

Maximum Purchases

Similar to their rules on minimum purchases, Visa and MasterCard do not allow merchants to put maximum limits on what customers can charge for a single purchase. For instance, if you want to buy a motorcycle for $10,000, the merchant typically cannot refuse to use your card for the transaction.

Identification

According to MasterCard and Visa, signing your card "See ID" on the back means the merchant can legally decline the card for that transaction. A card signed with only "See ID" is not considered legal tender, and most merchants will ask for additional identification to complete the transaction.

References

• MSNBC