Credit Card Processing through Costco

Discussion in 'Business Operations' started by Howard Roark, Jul 26, 2005.

  1. Howard Roark

    Howard Roark LawnSite Senior Member
    from Texas
    Posts: 806

    I'm looking for good rates on CC processing, and Costco is currently at 2.02% plus .27 per transaction, with the $25 initial fee and $4.95 monthly fee waived if you're an executive member.

    Does anyone here use this service? How would you compare these rates to others?

    Thanks!
     
  2. out4now

    out4now LawnSite Bronze Member
    from AZ
    Posts: 1,796

  3. Kate Butler

    Kate Butler LawnSite Senior Member
    Posts: 640

    I've been considering this also. Will be interesting to hear from others with experience on he subject.
     
  4. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Posts: 4,041

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    Hi Howard Roark,

    This has come up in the past and I have heard no complaints about Costco's service.

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  5. Howard Roark

    Howard Roark LawnSite Senior Member
    from Texas
    Posts: 806

    I have to agree Gopher, I've never heard a negative thing about Costco ever...including any of their services. God knows I love shopping there. Exec members get a % back each year just for shopping...like 2 %, and if you get their Amex you get something like an additional 3% on dollars spent at the store. My friend got back close to 2K.

    I'm going to give it a try. I'll let everyone know how I make out.
     
  6. AzonPM

    AzonPM LawnSite Member
    Posts: 14

    I would look into paypal.com
     
  7. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    yeah i was just going to say that, they're an ebay company and I recently got approved for their credit card which is all handled through Providian bank it seems.
     
  8. GreenUtah

    GreenUtah LawnSite Senior Member
    from SLC, UT
    Posts: 866

    It's all about fees. A merchant account (CC processing) is very competitive and what you need to watch for is fine print issues, like the number of transactions per month, whether you use a virtual terminal, phone in or a swipe machine. Debit/check cards etc. what may seem like a good deal can actually become a nightmare if you don't choose carefully based onthe habits that your customers have with you. I have a Costco membership for another business and there certainly are deals to be had, but also some things that appear to be deals can be had for less elsewhere(paper being a good example of this). Those are not the lowest rates I've ever seen quoted, but you need to read everything about the rest of the deal before you can compare.
     

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