Credit card problems

I know that there are a few members on the forum that accept cards for payment, and I need some advice. Three fourths of our sales are out of the country. We were originally told that we would be charged 2.44%, for sales where the card holder was not present. We now find that we are being charged at 4.14%. That's painful on a 5000.00 sale! Processor says it's because of the foreign sales, but they are chargeing the high rate on domestic sales as well. Anybody have a similar situation or are we just getting screwed? I know this is not car related, but the depth of knowledge here should be helpful. Thanks, guys.

seems like someone lied to someone along the way. is it in writing somewhere that you'll be charged 2.44%? if thats the case i guess just keep going up the ladder till someone will fix it. they're making their money two ways, because they charge the cardholder a foreign transaction fee as well

If they are kicking all your sales into one rate fee (the higher one) based on the fact that your do some foreign sales, set up a separate account for domestic transactions.

Some credit cards and some credit card issuers (not always the same institutions) can be some of the sneakiest/underhanded folks on the planet. When it first came out, I got an AT&T "all in one card"....a card that was both a credit card and a phone card (this was just before cell phones hit big, and portable 'phones were as big as television sets). It was advertised as NO ANNUAL fee, and a low interest rate. Well, when I didn't rack up a mountain of charges and a consequent mountain of interest payments, AT&T suddenly instituted a "finance charge" even tho my unpaid balance was $0.00. You need to be a lawyer/accountant to keep up with the ways credit card companies can screw you...legally.

My guess is that your card company bumped you into a higher bracket across the board and is hoping you won't notice.

Credit card companies are WORSE than big oil.

I'm new to this, just started the company in May. My clients can pay either by card or by wire transfer. Gee, a card is soooo convenient. A wire transfer cost me 15.00 to accept, so, gee, the card HAS to be cheaper, no? Well, I have gotten a real education this week. Part of the learning process. I am slammed with new clients, but when they pay with a card I don't get the money for three more days, it costs me half my profit, and slows down the shipping. Arggh. This will all even out soon, and things look real good for the long term, but I am so stressed right now that I'm looking for a puppy to kick.

time to find another card processor. I used to get alot of offers on better processing rates, but none of them made sense for me. just start looking around for a processor that specializes in people who do lots of overseas sales.

I'm paying around 1.5% on my credit card transactions. Your processor sucks...

Oh, PM please!!!! After mucho bitching, we are down to ONLY 2.9%. I'm losing way too much money. Thanks, Chuck