You have probably heard the news. Retailers can charge up to four percent extra when you buy something with a credit card. Not true if you live in Colorado --- or Florida, Kansas, Maine, New York, Oklahoma, Texas, Massachusetts, Connecticut, or California.

If you are buying outside these states online or at brick and mortar establishments, beware that you could be charged extra for using a credit card. The business can charge you what they are being charged for a processing fee, which is typically 1.5 percent to 3 percent of the purchase price.

However, the company must post a sign in the building about the charge, at the cash register and on the back of the receipt.

There is not a surcharge for a debit card with a pin number. However, if it were me I would not use a debit card online. I would use a company that does not have a surcharge or use PayPal or other electronic payment options that can’t charge extra.

Before you become too concerned, be aware that large companies such as Target and Wal-Mart have said they will not be charging their customers extra for using a credit card.

My guess is even though it is now legal to have a credit card surcharge in 40 states, not a lot of businesses will be doing it. If they do, you can always use a competitor.