Credit Card???

The credit card companys advertising the lowest percentage numbers usually turn out to be the most expensive.

Most merchants confuse "merchant processing discount rates" with "cost of accepting credit cards". They think the lower the number, the less their cost.

Merchant pays the low discount rate than quoted when:
Settled in a timely manner.
A personal Visa or MasterCard.
Swiped through a mag reader.
Several other misc. criteria.

Merchant pays a higher percentage rate than quoted when:
The is a business or corporate card, not a personal card.
The card is a government issued purchasing card.
The card is of foreign origin.
The card is NOT swiped but is key entered.
The card is a Level II or Level III purchasing card.
The card is a Rewards card.
The card is not settled in a timely manner.
A voice authorization was involved.
AVS (Address Verification) mismatch.
Card incorrectly processed by Merchant.
Out of date or noncompliant terminal and/or software.

Recent News

Be Aware of Mid, Non and Qualified Discount Rates!

New Credit Card Laws Take Effect Feb. 22, 2010
Saturday, January 30th, 2010
The Credit Card Accountability, Responsibility and Disclosure Act (aka Credit CARD Act) of 2009 passed by Congress take effect on February 22. These new laws are sure to affect consumers and credit card companies alike, for better or worse. Here are the highlights:
GRACE PERIODS–Card issuers must provide minimum 21 days after statement issue date for cardholders to pay their bill, up from the current legal requirement of 14 days. Hopefully this will eliminate many of the exhorbitant $39 or more “late fees” issuers have been raking in.
INTEREST RATES–Issuers must notify cardholders of increases in interest rates minimum 45 days before the new rate goes into effect. The new law also limits the powers of creditors to increase rates and impose fees.
MINIMUM PAYMENTS–Cardholders will be required to make higher minimum payments. However, the new law prevents credit card companies from raising minimum payments at any given time by more han 100 percent–no more having rates go from 3% to 12% with or without cause overnight.

Advantage Media ATM, Inc.

Phone: 1-(866) 208-3277 Fax: (704) 843-1498