I just visited with new prospects, a husband and wife who run a business. Each is very intelligent and articulate. Unfortunately when I asked to see their credit card month end statement. they were amazed when I told them how high their rates for nonqualified transactions were.
Why is this?
I believe the card industry as a whole does a poor job of providing a statement that is legible and understandable even to intelligent people. Statements should be, and in some isolated cases, are easy to read, not computer-generated data reports. After all, they ARE invoices that are paid by you automatically so you should be able to quickly understand what is being charged and why.
I am fortunate to be able to represent one such processor who has spent a lot of time making the statement understandable and clean.
If you need someone to translate your statement from jibberish to English, let me know. Just fax it to me at 203.549.0406 and I will walk you through it.
A little education can be helpful. That's what this blog is all about.
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