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Why Credit Card Companies Can Afford to Lower Your Rates

Last updated 6 years ago

While banks have been reeling since the recession hit in 2008, major credit card companies aren’t losing traction. It’s no secret that these companies are doing fine despite the economic recession. Merchant Advocate was formed in 2007 with only one goal: credit card expense reduction for small and medium businesses. We believe your hard-earned money should go back to your business, not to credit card processing fees that line the pockets of major corporations.

How Credit Card Companies Earn Money
Credit card companies have two major sources of profit. The first is through loaning credit with high interest rates to cardholders, requiring people to pay back their expenses with additional charges that can range up to 20%. Second, these companies charge businesses for credit card processing every time a customer makes a transaction. These fees average between 2 and 3%, adding up to hundreds or thousands of dollars each year for every business that accepts major credit cards.

The Truth About Credit Card Companies
In 2011, the credit card industry made a gross profit of $18.5 billion. With only a few major companies in the market, that means each enjoyed earnings in the millions or billions. Why, then, do these companies feel entitled to take hard-earned profits from small and medium businesses? Credit card processing is an entirely for-profit, which is why rising rates are constantly frustrating business owners across America.

Why Your Rates Should Be Lower
Credit card processing rates are determined based on several factors, which means they are subject to change with skilled negotiation. Merchant Advocate was developed in 2007 because our founder decided these unfair rates were harming businesses and needed to be changed. Since then, we have been working tirelessly to achieve the lowest credit card processing rates for every client.

If you’re a business owner, you deserve credit card expense reduction with the help of Merchant Advocate. Keep your hard-earned money and reinvest in your business with the savings we’ll help you achieve. Call (732) 727-2073 to get started.


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