What to Look for on a Credit Card Statement 3 Main Fees to Look for on Your Credit Card Statement 1) Interchange Fees These are the fees that are assessed to your business from the issuing banks that issued cards to your customers. Usually non-negotiable and can be a monthly fee, transaction fee, or what is known as the percentage of gross sales, or discount rate. PCI Noncompliance Fees These fees are important to pay attention to because they are avoidable and can range from $4-$250 a month! On top of that, there’s a liability that exists that if your business is deemed non-compliant and suffers a data breach, you could be held responsible. Learn More About Being PCI Compliant 2) Surcharge Fees Surcharges are an easy way for credit card processors to hide more fees in your bills while they line their pockets. So, if you see the word surcharge on your statement, chances are your costs are inflated, and you’re not being treated fairly by your processor. 3) Price/ Rate Increase This is where Rate Tracker comes in to help! Processors can easily sneak in more charges with an unnecessary rate or price increase in your monthly payments. You unknowingly agree to this by remaining their customer. Rate Track alerts you when this happens so you can take action. Learn More About Rate Tracker If you are a business owner, you need to understand the credit card processing industry in order to keep your hard-earned profits! Contact us today to learn more about how we can help you!

Many business owners rely on credit cards as their income source. As customers pay for their goods and services, they pay with their cards, and each transaction costs the business owner a small percentage. However, there is a lot of confusion around this industry that most business owners do not have the time to fully understand. With this lack of knowledge, it is easy for the credit card processing companies to take advantage of these small business owners. A processor is earning a set amount of profit each month, and they can increase the rates slowly. This lines their pockets and eats away at your profits! How Can Rate Tracker Help Business Owners? Rate tracker is integrated with your bank account securely and safely and will immediately alert you whenever the processing fees are increased. For example, a restaurant owner processing $60,000 per month decided to try Rate Tracker. He found that the processor increased their rates at about .75%, that equates to about $400 a month in extra fees that the business owner really had no idea that he was going to pay. Learn More About Rate Tracker If you would like to learn more about Rate Tracker and how we can help you understand your credit card processing rates, contact us today! Rate Tracker is free to use and 100% secure! Track My Rate!