Negotiate credit card fees

Make sure you get the best credit card deal.

At Curnow & Co we can provide businesses in the Cambridge area with help and advice on finance and on a wide range of business issues. Here are some tips for reducing credit card fees...

Did you know that the rates set by banks and other credit card companies are negotiable?

Different companies have different charges for processing credit card transactions, so it pays to shop around for the best deal.

Credit card processing fees are determined by:

  1. The number of transactions
  2. The sterling amount of these transactions
  3. The type of equipment used (use swipe machines not imprinters)
  4. Your ability to negotiate fees with the bank

Depending on these factors and on the card used, processing fees can range from 1% to 4%. At the top end, the credit card company can be taking a large part of your bottom line away, and when margins are tight these fees can mean the difference between enjoying a profit or slipping into the red.

Trying to trim these costs by setting a minimum level for credit card transactions risks losing sales if the limit is set too high.

A better way is to negotiate a reduction in the processing fee with your credit card company.

If you are in the Cambridge area and are looking for professional advice from an experienced team of accountants, contact Curnow & Co.

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Company details

01223 870879

Curnow & Co, 29 High Street, Harston, Cambridge, Cambridgeshire CB22 7PX.

Curnow & Co Limited Registered office address: Curnow & Co, 29 High Street, Harston, Cambridge, Cambridgeshire CB22 7PX. Incorporated on 25 February 2017. Company number 10639627.

About us

Curnow & Co are a firm of Chartered Certified Accountants based in Harston, Cambridge.

The company prides itself on delivering a friendly and professional service tailored to clients’ individual needs.

We provide a wide range of accounting, business and tax services, giving our clients peace of mind that their financial affairs are in safe hands.

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