Free Credit Card Terminal – Good or Bad? Maria GallucciOctober 2, 2018Finance0 Comments Are you offered free equipment to process credit cards with your merchant provider? There has been a constant trend with several major companies in the business of the exploitation account, and I must say that I do not like the trick. I am here to advise you not to take the free computer program, without knowing how to negotiate all the terms of the account. Often “free” piece of equipment It’s just a sales tactic, which is used for the long-term contract signed. If a contract has ever been canceled, you have to return to the company’s terminal, and you will be back to buy a new product in the future. Terminal credit cards range from $ 150 to $ 700 (wireless models are at the higher end of this range), and my recommendation for you – buy the terminal, if you have the means. So, what is the cost of the “free” terminal for credit cards? Well, as we all know, nothing is really free, the cost will be credited to the company charging you a higher interest rate. If this commitment, you can really pay exponentially more than necessary for the team, which would otherwise cost a couple of hundred dollars. Look at it from the other side Its business processes are $ 20,000 in credit card amount and a fair rate for credit card processing – 1.79%. But we look at a company that will give you a “free” terminal and the rate of 1.89%. This is an additional $ 20 per month, you will be paid for a “free” credit card terminal. Also, if you deal with them in a few years, you cannot even leave the terminal at the end of the contract. In addition to the free credit card terminals, I also strongly recommend that you never rent credit card terminals. I have a whole section devoted to which bad lease terminal for the owner of a merchant in my free report on my website, but I do not need to specify here. The rent is not canceled, and I’ve never seen a scenario in which the owner of a business was happy that he or she rented or bought after it became clear how low-cost the credit card units really are. Therefore, there are companies that have reasonable terminal placement program and terminal rental program, which are much better than the “free” offers that you may have seen there. Be sure to carefully compare the prices, you get a “free” terminals from the program to which you need to buy or rent the terminal. The always higher offers with the “free” terminal program.