Hi all,
Just wanted to share what I’ve recently uncovered in case it helps someone else.
In 2019 I signed up for credit card processing through Ascent Processing, which eventually switched me over to Elavon (US Bank). I was told I’d get a competitive flat rate around 3.3%, which seemed fine for my vacation rentals. Over time, though, I realized my effective rates were running 5–7%, even in normal months with steady volume. I always found the entire system confusing to navigate and opaque overall, which is why I suspected the rates we were paying were too high but was never able to get to the bottom of it.
Recently, after months of digging and talking to multiple reps, I finally found out my account had been set up with the wrong MCC code (7011 – Lodging). That code is meant for hotels and resorts, and Visa expects extra “lodging data” that vacation rental systems like OwnerRez don’t send. Because of that, every Visa transaction downgraded to a higher-cost tier. In other words, my account was misconfigured from the start.
Elavon admits this now and says they can fix the MCC and move me to a flat-rate plan, but they’ve refused to refund the overcharges — saying Ascent was the one who set it up wrong. Ascent, of course, points back at Elavon. Meanwhile, I was also getting hit with $75/month PCI “non-compliance” fees for years, with no outreach or help on how to fix it.
If you’re using Elavon or Ascent, check your MCC code right away (if it says 7011 Lodging, you’re probably overpaying) and make sure your PCI compliance is current.
I’ve switched to Stripe now (flat 2.9% + 30¢, no PCI or downgrade nonsense), but I’m still trying to get Elavon/Ascent to make this right. Posting this so others don’t end up stuck like I was.
