One Major Mistake is Costing Your Business Thousands

You're tired of it! With card usage constantly on the rise, you are giving away more and more of your sales just so customers can use major credit cards!

You've tried multiple companies. They start saving you money, but raise their rates after their 3 month promo ends and you are stuck inside a two year contract! You keep getting hit with unexpected bills and it isn't fair! You try raising your prices, but still end up losing money. It's mind-boggling!

I hate to say it, but the truth is that most processing companies are really just out there to milk you! Why do they do this and what's really happening?

One thing you might not realize is that major credit cards raise their costs consistently each year, twice a year! That's right. it costs more to use and process Visa and Mastercard now than it did six months ago! Hence, your bill that increased. The only way for these companies to continue making money is to increase their fees.

There seems to be no way out of this tragedy! No matter who analyzes your statement to give you the so-called "best deals", nobody has actually helped you. Yet, you keep yourself inside the mindset that there is no way to offset these fees. You are stuck with them. It's all part of the 21st century and you just need to accept it. But you're wrong!

Here are seven tips that will save your business from unnecessary processing fees!

1. Avoid long term contracts completely! Don't listen to any service that wants to lock you inside a contract. That is a major red flag for increased fees as the contract moves forward. Search for simple month to month contracts. They are out there! By signing onto a service that has no contract, you are guaranteed no hidden increase in costs. Plus, you won't have cancellation fees and you can cancel at the end of the month vs the end of the year.

2. Read the fine print! I cannot stress this enough! Make sure you know exactly what you are getting yourself into. Don't simply fall for what appears to be a good solution at first glance.

3. Ask Questions. Never sign up for a service without addressing every single concern you have about it! This will help you better understand what and who you are dealing with.

4. Appreciate Honesty. If the service provider is unwilling to explain by beating around the bush or by promoting the service instead of answering questions, you need to turn your back immediately! If they are doing this, then they have something to hide. Trust only those who address your concerns by understanding, not pushing sales.

5. Don't keep raising your prices. While it seems practical to adjust your costs to offset your fees, all you are doing is increasing the amount that the processing company takes. Plus, when you increase your price, you increase the tax. You will end up with more money, but no less hassle and you will continue to do this every year and will get tired of it!

6. Find a company with a flat rate. Believe it or not, they do exist...and their rates are not excessive! Rare companies handle the fees for you while you simply pay them for the service. Much like an insurance premium, without a deductible. Do some research and find someone who sells this unique service!

7. Always be up for new options. Never believe that what you have is the best you can get! It can be annoying when people keep asking to analyze your statement and you grow weary of it. But if you don't consider new options, you will never find anything better than what you have...and if there is something out there, you are going to want it!

Keep your head high and never give up on your dreams!