Credit card settlement could put money in pockets

SATURDAY FEB 9, 2008 (uscards.com) -- News broke that credit card issuers have sent out more than 30 million notices to users of credit and debit cards who are eligible for a refund for fees paid when using a Visa, MasterCard or Diners Club card to make a purchase and ATM withdrawals outside the United States. The refund can be $25 or higher.

Years ago, a class-action lawsuit was filed against the credit card issuers and banks that allegedly hid foreign exchange fees from customers. Visa, MasterCard, Diners Club and the banks denied any wrongdoing.

The fees typically ranged from 1 percent to 3 percent, according to Chicago Tribune. The court ruling calls for card companies and hanks to set up a $336 million fund to return fees to consumers. Those who conducted the relevant transactions between Feb 1, 1996 and Nov 8, 2006 are eligible for the refund.