Costco Credit Card Processing.

[Dan]

Anyone use them? Are you happy with them? Anything better out there?

For reference here are their rates:

Retail:
Non-Rewards: 1.48% + $0.20
Rewards: 2.20% + $0.20
Business: 2.91% + $0.33
Government/International: 3.75% + $0.33

Online/Mail-Order/Telephone
Non-Rewards: 1.99% + $0.27
Rewards: 1.99% + $0.27
Business: 2.91% + $0.32
Government/International: 3.75% + $0.32

-Get a $150 Costco GC for signing up.
-2 year contract/$95 ETF.
-No monthly fee or app fee for exec members.
-$20 in minimum processing fees required per month.
-Virtual Terminal is $179 one time fee+$8 per month.
-Physical Terminal is about $450

AMEX processing is more, I think like 3.5%, so paypal or GCO would be better for that.

[SuperFlyer]

Say I pay you, and pretent its not a reward card.

How do you know, before receiving tour bill that I lied?

[Dan]

Say I pay you, and pretent its not a reward card.

How do you know, before receiving tour bill that I lied?

You won't know.

But being an online business it will process at the same 1.99% anyway.

[SuperFlyer]

Is there a annual fee?

Is the fee the same for amex?

I'm smelling something....

[eliteflyer]

Is there a annual fee?

Is the fee the same for amex?

I'm smelling something....

You mean like paying your own business in order to buy points?

[Dan]

Is there a annual fee?

Is the fee the same for amex?

I'm smelling something....

No annual fee.
AMEX is 3.5% unfortunately.
Maybe your sufganiot are burning?

[SuperFlyer]

Burning my stomach you mean.

It seemed that swiping gets even better prices, and its mashma for amex also.

[aaa]

Anyone getting one of these merchant accounts?

[AsherO]

Anyone getting one of these merchant accounts?

How much are you processing.

Besides, wouldn't it be worth it to check if one of the frum places will match these rates (or am I kidding myself even thinking that's a possibility)?

[Dan]

Anyone getting one of these merchant accounts?

I think I will.

Besides, wouldn't it be worth it to check if one of the frum places will match these rates (or am I kidding myself even thinking that's a possibility)?

Perhaps, but from what I've seen they're not even close.

[andrew]

which points are worth 2 cents pp besides amex points?

[Dan]

which points are worth 2 cents pp besides amex points?

Not much, I'm looking for processing, not for making miles.

But I guess on the CO Onepass Plus card if you spend $25,000 it will cost $497.80 in processing and you'll get 35,000 miles with the annual threshold bonus.
1.42cpm.

Or on the Presidential Plus you can spend $5,000,000.  For $99,500 you'll get 5 million miles and 1 million flexible elite qualifying miles.
That's enough to get lifetime elite status for you and a companion and enough for 1K status with SWUs and CR1s for both of you for at least a decade.
If you value CO miles at 1.6cpm that would be you would be paying $19,500 for the status.

[SuperFlyer]

One should get it done in a pro way, not superflyer billing superflyer

[sweety]

So dan did you sign up with costco? Or is there any other company that's cheaper?

[Dan]

So dan did you sign up with costco?

Yes.
So far, so good.

[AsherO]

Yes.
So far, so good.

What are you processing cards for? DD.com ads?

[SuperFlyer]

How about debiting his own amex spg?

Works out to $0.0199 per spg

Not such an amazing deal.

[sweety]

Isn't there transaction fee and business / government cards very very expensive? When I total my whole bill and divide it(that's the real way to know your exact percentage what you are paying because there is so many tricks to this line) what I process, I don't get close to 3 percent including already my percentage, transaction fee, statement fee, and batch fee and I am not a retail store which is more cheaper, did you do any other shopping by other companies?

[Dan]

What are you processing cards for? DD.com ads?

That and travel/concierge services.

[AsherO]

That and travel/concierge services.

What's the price structure for that? Can I get a brochure please?