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Super Moderator
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Discussion Starter · #1 ·
As most of you regulars are aware, I am reorganizing my business.
I have gotten the "last and final" offer for rates on credit card acceptance fees from the provider recommended by my bank of 20 years.

I told her "no deal, sharpen your pencil more"

Here is what she quoted- and for those of you who take credit cards, please tell me if you think I am trying to suck blood out of a turnip so to speak.

MC/VS offline swipe discount rate 1.48%
Credit discount rate 1.79%
Key in surcharge additional surcharge 1.05%
Non qualified (I think that means corporate cards and rewards cards) additional surcharge 1.65%
(I know there are statement fees and per ticket charges, but those are minor) Also disregard the monthly fee for a leased mobile terminal.

Can I push some more?

Thanks in advance guys.



I think I've got them to the bottom, but I would appreciate hearing if there is anything even lower.
 

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bathroom guru
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1,348 Posts
MC/VS offline swipe discount rate 1.48%
Credit discount rate 1.79%
Key in surcharge additional surcharge 1.05%
Non qualified (I think that means corporate cards and rewards cards) additional surcharge 1.65%
(I know there are statement fees and per ticket charges, but those are minor) Also disregard the monthly fee for a leased mobile terminal.
RS, - I think the 1.48% rate is pretty good -
What is a credit discount rate? - tell me that's not added on to the 1.48 - cause then I think its getting a little high.
Same for the surcharges.

I haven't had CC for a few years and only get asked maybe once or twice a year so I am not at this time planning to change, however, when I did accept them, I only had one rate, which (5 years ago) was about 2% - no extra fees or charges.
 

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Super Moderator
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11,965 Posts
Discussion Starter · #3 ·
Jarvis, it's all different now. There are different rates for every scenario. The cheapest discount rate is for a debit card, swiped, with a signature.

The next tier up is a credit card with a swipe and signature, as long it isn't a corporate card or a rewards card which are charged to the discount rate.

Yeah they are definately balancing risk against conveince with these cards, and so far they are winning. It's kind of hard to see through the different rates and put apples to apples.

Thanks for your reply, I really do think I have beaten this thing as far as I can get it, but I just needed a second opinion.

I'm close to over and out for tonight, and I will check out what the guys can come up with overnight before signing up.
 
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