levistep said:
Did Mastercard charge you the 2.5% fee or did your college charge you the 2.5% fee for using your credit card to pay for tuition. If it's the latter you are SOL most likely. Mastercard doesn't see the charge and thinks its just you paying your tuition and nothing else plus you signed for it.
I'm amusing that its the college charging you the 2.5% because more then likely that is there merchant fee for taking MC credit cards so your college is passing it off to you the nice people they are.
While hindsight is 20/20 you should of contacted Mastercard beforehand asking them is passing on the merchant fee to the customer valid in there merchant agreement with MC. When I worked for AMEX it was forbidden for a merchant to charge the customer the fee as an example. (I believe that has changed but not 100% sure) If it is against MC merchant policy you'd have to go back to the college and deal with them. I've had times when people have gone back to the store, returned the item in question and had the store rebill the item without the extra 2.5% since the customer made a call to AMEX to inform them about the stores policy. I know that part doesn't direct apply to you.
levistep said:
I'm 90% sure your school is outright lying to you. Yes it's a Mastercard fee but its charged to the merchant for taking the credit card. I'd almost lay money on the fact if you called Mastercard they'd tell you the same thing because why would Mastercard charge you an extra fee to use there card when they are other funding methods out there.
Mastercard will be making tons more money off any interest being charged plus there getting there's on the back end from the merchant. It would be dumb for MC to charge that fee upfront like a tax.
Mastercard won't cancel the charge if you called, you'd need the merchant to call to cancel the charge. Once the card is swiped Mastercard is going to think you handed over your card and signed for the product or service. It's like me going to a restaurant charging the meal to my credit card then calling Mastercard once I get home to have them remove it since I didn't like the food or something. It just doesn't work like that. A charge would have to be cancelled by the merchant calling into MC.
dmmd98 said:
This is the email I got from the bursar after inquiring.
If you pay the bill by echeck we could refund the credit card, when the payment is received. However the convenience fee is not paid to us, and is not refundable. We have no authority to waive or reduce that fee.
xxxxxxxx, Bursar’s office
So, could I ask the bursar to refund the credit card payment or not accept it, and then I won't be charged any type of fees from Mastercard? The convenience fee would be dropped and there aren't any cancellation fees or anything? Will the fee only be dropped if they don't accept it to begin with? If the bursar accepts the payment, then refunds me, will I be screwed off with the convenience fee still?
Btw, i really appreciate the help.
It's common amongst local computer stores, they will advertise a cash price but if you want to pay with a credit card they will add a few % points to the price to cover the fee that the credit card companies charge. It could be that the school much like a computer shop runs on such tight margins the 3% eats away at the profits.
