Credit Card Processing Fees Calculator

Woman processing credit card fees

You'll never truly know what your profits are without first determining all your operating costs. Credit card fees are one of the most common factors you'll have to consider as many people are moving away from cash in favor of digital and plastic methods of payment.

To get started, enter your transaction amount into the field below. Next, use the slider to adjust your current processing fee percentage. To make things a little easier, here are the current average fees per card type.

  • Visa: 1.4% to 2.5% + $0.10 per transaction

  • Mastercard: 1.5% to 2.6% + $0.10 per transaction

  • Discover: 1.55% to 2.5% + $0.10 per transaction

  • American Express: 2.3% to 3.5% + $0.165 per transaction

Sources: SoFi, LanternCredit, Merchant Cost Consulting, NerdWallet


Is it legal to charge customers a Credit Card fee?

In most cases, it is totally legal to charge customers a fee for processing their transaction at a business. I often got asked this by customers when I worked as a cashier years ago. Though it may seem like a greedy move, it's an accepted business practice by local and state governments across the United States.

In fact, many gas stations still charge you a higher price when purchasing gas with a credit card. Now, I generally drive past these places because the upcharge can offset the reward points from my credit cards quite a bit. But still, the gas stations are well within their rights to do this.

There are some limitations to credit card surcharges which I'll explain below.

  • The surcharge policy must be clearly stated - The merchant cannot just tuck it away under a poster or the cash register.

  • You must be within a state that allows such practices - There are a couple of states in the U.S. that prohibit such practices, Connecticut and Massachusetts, for example.

  • The fee cannot be more than what the merchant pays for the transaction - The business cannot try to profit from the charge itself by adding a little extra on top of the fee they pay.

Can a business require a minimum purchase for Credit Card purchases?

Though it seems sketchy, merchants are 100% allowed to charge consumers a minimum for credit card purchases. But, similar to the fees for processing credit cards, there are some limitations imposed on the practice.

  • The minimum fee cannot be higher than $10 - And, you thought $5 was high? There are some places in South and North Carolina where I've seen minimum transaction fees this high.

What about Debit Cards, do the same rules apply?

The Dodd-Frank Act explicitly imposes a maximum fee on credit card transactions only. Currently, there is no regulation regarding debit cards, but the major card companies, Visa and Mastercard, both do not allow merchants to set minimums for debit card purchases.

Credit Card transactions are never free but my small business tools are!

If you enjoyed my credit card processing fee calculator, you'll love my other free small business tools. Check out my Cash Back Calculator and the Cash on Cash Return Calculator. And if you're in search of a place to manage your projects, contacts, profits, and productivity, look no further than Super Easy CRM. It was built by a small business owner (Me!) for other small business owners (You!).

Matt Irving is the CEO of Super Easy Tech, LLC.
Matt is the CEO of Super Easy Tech and creator of Super Easy CRM. He is a passionate software engineer, tech blogger, and gamer. Feel free to connect on any of the platforms listed below.

Posted by: Matt Irving on 5/20/2024