Preferred Card Services Reviews & Complaints
Note: As of 2023, it appears that Preferred Card Services is out of business. If you have any information about the company's status, please let us know in the comments below.
Company Overview
Established in 1986, Preferred Card Services is a merchant account provider serving businesses of most types and sizes. The website for Preferred Card Services states that the company is “powered by First Data,” which indicates that the company resells First Data (now Fiserv) contracts.
Preferred Card Services Payment Processing
Preferred Card Services processes most major debit and credit cards for most business types. Their services include access to a payment gateway, mobile solutions, e-check processing, gift card programs, cash advances, PCI compliance, and data reporting and analytics.
Location & Ownership
Preferred Card Services is headquartered at 301 N 3rd St, Coeur d'Alene, Idaho 83814, and is a registered ISO/MSP of Wells Fargo Bank, N.A. of Walnut Creek, California. The company's president and CEO is John Mahin.
Preferred Card Services Customer Reviews
Here's What Their Clients Say
| Total Online Complaints | <10 |
|---|---|
| Live Customer Support | Yes |
| Most Common Complaint | N/A |
| Recent Lawsuits | No |
Low Complaint Total
As noted above, most of Preferred Card Services reviews that accuse it of being a scam or a ripoff appear to have been mistakenly filed following an interaction with an unrelated company. Excluding these complaints, we were only able to locate one Preferred Card Services review, found in the comment section of this review, which expressed frustration with the company’s customer support. In this case, the merchant was charged for PCI non-compliance despite going through what the merchant thought was the appropriate process. If you have your own Preferred Card Services review to make, please do so in the comments below.
Preferred Card Services Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Preferred Card Services. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Preferred Card Services Customer Service Options
The aforementioned complaint received a professional rebuttal from a company representative who indicated that the merchant may not have even dealt with Preferred Card Services. It is likely that Preferred Card Services relies on First Data (Fiserv) for its customer support, and this arrangement does not appear to be a source of frustration among clients. Still, the available evidence does not suggest that this credit card processor should qualify as a top-rated processor for customer service at this time.
Preferred Card Services Online Ratings
Here's How They Rate Online
| BBB Reports | 0 |
|---|
No BBB Complaints
The Better Business Bureau profile for Preferred Card Services currently has an “A+” rating and has not received BBB accreditation. The company has received 0 any complaints or informal reviews in the past 36 months.
An “A” Rating For Now
Given the company’s nonexistent complaint total, we agree with the BBB’s rating of an “A” but will continue to monitor complaints and reviews that surface. Readers should still be aware that there are good reasons to be skeptical of the BBB’s Preferred Card Services reviews.
Preferred Card Services Fees, Rates & Costs
A Closer Look at The Contract
| Cancellation Penalties | Yes |
|---|---|
| Monthly & Annual Fees | Yes |
| Processing Rates | Variable |
| Equipment Leasing | Yes |
Potential Contract Terms with First Data (Fiserv)
Preferred Card Services, associated with First Data (Fiserv), potentially offers contracts that may mirror those of First Data (Fiserv). These agreements often span multiple years, including an early termination fee of up to $495, a monthly PCI compliance fee of $19.95, and tiered pricing models. Rates for merchants processing up to $50,000 per month could be as low as 2.69% plus $0.19 for swiped transactions and 3.69% plus $0.19 for keyed-in transactions. For higher volumes, the rates may decrease slightly. It’s also possible for merchants to encounter long-term, non-cancellable equipment leases through First Data Global Leasing.
As a reseller, Preferred Card Services may adjust these standard terms based on the specific needs and profiles of its merchants. It’s crucial for businesses to inquire directly to understand the personalized rate and fee structure offered.
Online Payment Solutions
The company provides virtual terminal and payment gateway services, essential for modern e-commerce and online transactions. While Preferred Card Services is a reseller of Authorize.net, with standard gateway fees around $25 per month and transaction fees of 2.9% plus $0.30, the specific rates and fees applicable to Preferred Card Services’ clients might vary. Merchants should engage in negotiations to ensure favorable terms.
Client Satisfaction and Transparency
The absence of public complaints regarding contract terms or fees suggests that Preferred Card Services may effectively communicate its terms, or its clients find the terms satisfactory. Without concrete complaints or endorsements, it’s challenging to compare Preferred Card Services directly with the market’s most affordable merchant account providers.
Businesses are encouraged to explore our curated selection of the best merchant accounts to find a service that aligns with their needs for transparency, affordability, and service quality. Sharing experiences or details about contracts with Preferred Card Services can provide valuable insights for other businesses navigating their payment processing options.
Preferred Card Services Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Uses Independent Resellers | Yes |
|---|---|
| Telemarketing | Yes |
| Misleading Marketing | No |
| Discloses All Important Terms | No |
Independent Sales Team
Preferred Card Services appears to rely on independent resellers to market its services. The use of independent resellers usually causes more complaints than a company’s telemarketing practices, but in the case of Preferred Card Services, this trend seems to be reversed. Nearly all of the available complaints about Preferred Card Services cite persistent and aggressive telemarketing tactics, but they have also received rebuttals from a company representative explaining that Preferred Card Services has nothing to do with the company making these calls. This is a strange case, as it seems that the actions Preferred Card Services has taken to put a halt to this other fraudulent telemarketing operation have not been particularly effective.
Lacking Clear Information
In the absence of any clear information, we are taking Preferred Card Services at its word on this issue and awarding it an “A” in this category. If you suspect that Preferred Card Services is charging you undisclosed fees, however, we recommend seeking an independent statement audit to spot hidden charges.
Our Preferred Card Services Review Summary
Our Final Thoughts
According to all available information, Preferred Card Services rates as a better-than-average credit card processing provider. The company enjoys a low complaint rate and appears to be distancing itself from a fraudulent telemarketing operation that had been hurting its reputation. Although details about its standard contract are unavailable as of this update, merchants can likely expect service typical of First Data (Fiserv). Readers are encouraged to be thorough when researching the company and to compare its costs to those of top-rated providers.
If you found this article helpful, please share it!
John mahin
To whom it may concern,
In reviewing your service it seems you are all pretty in tune to our industry. The service you provide merchants is greatly needed since there are so many scams in our industry. Thank you.
I want to dispute the comment from Ian Le. we have not now or never used Security Metrics for our PCI compliant service. We have been using Control Scan since the beginning of PCI. Also we did a name scan and have no such name to a merchant account we process for. He seems a little confused.
As for our sales and marketing we represent and number of national associations most have been with us for over 26 years. You all take away points to companies who use contracted companies, we have sales representatives working for us and over the past 27 years have been very selective of the people who represent our company.
As for complaints it was a merchant who received a charge back from a card holder. As you know we do not have any control over chargebacks. I feel for the merchants when this happens but when you get a large out of state sale which is out of the norm use common sense and question the transaction.
We appreciate your service but we feel A- does not represent our company. We are an A+ company that is why after 27 we still represent large national associations and have the same name. Only a hand full of companies in our business can say this.
lan le
I have been with this company for years and was told if Itake a pci compliant test that i would be fine. i was still being charged fees which on one can seem to understand why . they also said the company they sent me to “Security Metrics” is invalid company that they never done business together ,which is another lie because i would’ve never knew to go directly to them ,to take my compliance test all these years . and trying to get a hold of a manager ….. .. Dont bother because they also dont know what that person would even begin to look like .
very un-happy Lan Le
Sally Burtis
I get calls from these people a fewf times a day. Leave me alone. Remove my phone number from your lists.
My phone number is: [redacted]. If this doesn’t stop, I’ll have to take other action. You wake up the baby and annoy me to death with your constant calling. Remove my phone number from your business lists and don’t sell it to another company. You are a scam..
Phillip CPO
Hi Sally,
I have redacted your phone number from this comment since we are not affiliated with Preferred Card Services. This page is an independent review of the company.
John Mahin
The campany calling you is not Preferred Card Services Inc. We are a credit card processing company . There is some company that is selling credit cards to indaviduals that is a scam. We get calls all the time on this company.