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Under current law, a seller, lessor, or company issuing a credit or charge card is prohibited from imposing a surcharge against a person who elects to pay for a sales or lease transaction by using a credit or charge card. The act:
- SENATE BILL 21-091
to cover the cost of processing a credit or charge card...
- SENATE BILL 21-091
17 maj 2023 · On July 1, 2022, the ban on adding a surcharge for credit card transactions was eliminated in Colorado. Sellers may now add the processing fees they have to pay for credit card transactions. Sellers can charge up to two percent of the transaction in surcharge fees.
13 lip 2021 · Colorado Revised Statute § 5-2-212—which takes effect on July 1, 2022—will allow merchants to add fees to sale and lease transactions when the consumer uses a credit or charge card.
to cover the cost of processing a credit or charge card transaction, and pursuant to section 5-2-212, colorado revised statutes, a seller or lessor may impose a processing surcharge in an amount not to exceed 2% of the total payment made for goods or services purchased or leased by use of a credit or charge card.
The Colorado Uniform Consumer Credit Code (UCCC) is a state law that regulates the terms and conditions of consumer credit in the State of Colorado. It sets maximum rates and charges, requires disclosure of the cost of credit so consumers may shop for the best rates, and provides remedies for consumers on default.
To cover the cost of processing a credit or charge card transaction, and pursuant to section 5-2-212, Colorado Revised Statutes, a seller or lessor may impose a processing surcharge in an amount not to exceed the merchant discount fee that the seller or lessor incurs in processing the sales or lease transaction.
Colorado’s credit card surcharge law is changing on July 1, 2022. The changes will allow merchants to add amounts to sales and lease transactions when the consumer uses a credit or charge card.
