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costco credit card services

updated fri 1 feb 02


Jennifer F Boyer on thu 31 jan 02

I just went to the Costco site and did a little figuring based
on my own history of taking credit cards. I am a small time
user. Last year I had 3000.00 in charge card sales. I figure
that my average sale is about 40.00 so I had 78 sales, half with
the card in hand and half mail or web order. Costco has rates of
1.52 percent plus 21 cents for swiped sales and 1.99 percent
plus 28 cents for manual sales. The kicker is you need to rack
up 20.00
in fees(percent plus per-charge fee) per month. If you don't
reach that
amount you still get charged 20.00.
I figure that based on last years sales my fees would be 5.94 a
month, well short of 20.00. You would need to sell 12,000 in
charged sales
in order to get the stated percents and fees. And that's not
counting the
45.00 annual fee to be a member.

My current provider, Lynk Systems charges me 1.49 percent plus
25 cents(swipe) and 2.49 percent plus 25 cents(manual). There
are no monthly fees and no minimums.
Jennifer Boyer
Thistle Hill Pottery
95 Powder Horn Glen Rd
Montpelier, VT 05602 USA

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