There now you know. Rates Don't Mean Jack @%$#!
In all the time I have worked in the credit card processing industry I have encountered tons of merchants who feel that they must get the rock bottom rate to get the good deal. The fact is that most merchants have a real lack of understanding about how rates work and how they can structured. (Don't worry it's not your fault)
If you own a business I'm sure you have had this conversation with a processing agent.
Merchant "what are your rates?"
Agent "the lowest around and I'll beat any rate!"
Merchant "How can that be?"
Agent "well give me a statement and I'll get you a quote"
After this conversation takes place the agent returns with a proposal showing new rates that are lower and will supposedly save you some money. Now don't&a ...