YSU to charge fee for use of credit card
News from Youngstown Vindicator:

Published: Wed, May 30, 2012 @ 12:03 a.m.

Staff report


Beginning July 1, a 2.75 percent convenience fee will be charged on all credit-card transactions on Youngstown State University student accounts including tuition.

The university says the change is necessary because of increasing costs, changing compliance regulations and to bring YSU in line with practices at other universities in Ohio.

MasterCard, Discover Card and American Express credit cards will be accepted. Visa, which doesn’t participate in the fee structure, no longer will be accepted.

The university will continue to accept payment by electronic check, check, debit card and cash with no fee. Visa debit cards will continue to be accepted.

Bowling Green, Cleveland State, Kent State, Miami, Ohio State, Ohio University, University of Akron, University of Cincinnati, University of Toledo and Wright State charge a credit-card transaction fee and do not accept Visa credit cards.

Neal McNally, YSU budget director, said it is important to note that YSU does not collect or keep any part of the fee. He also said the convenience fee does not apply to retail sales, such as the Bookstor…………… continues on Youngstown Vindicator

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The True Cost Of Your Credit Card
News from TheStreet.com:

If you don’t know the major pricing terms of your credit cards–and a surprising number of consumers don’t–then it’s time for an introduction. After all, how can you manage your finances well if you don’t know the conditions under which you’re operating? Even if you know Here are the 10 main terms you should know before applying for a credit card.

  1. Annual Percentage Rate (APR) on purchases: This is how much interest you pay when you carry a balance for purchases from one month to the next. Credit card companies can’t increase the APR on new purchases in the first year of an account or on existing balances, period, unless you’re more than 60 days late on payments.
  2. Introductory APR: The introductory APR is in effect for only a limited time. Don’t confuse this appealing rate–often advertised in big, bold type–with the higher standard APR when you apply for credit cards.
  3. Credit limit: Know your credit limit, and strive to keep balances below 30 percent of that amount. Using too much of your credit limit hurts your credit score. Plus, it’s embarrassing to have your card rejected at the cash register or at a restaurant if a purchase puts you over the line.
  4. Ove…………… continues on TheStreet.com

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