Personal Credit Issues & Merchant Processing Services
Nowadays it can be difficult to find a bank or credit card processing company that is willing to help your business, your small business, or new business and set up to take credit cards on your website or your business establishment if your FICO score is low or bad. Issues can come up in anyone's life that can affect your credit history. Unfortunately most banks will run credit checks on your personal history before approving you for a merchant account. But you know how vital it is and how important it is to revenue and profits for your company to be able to accept Visa and MasterCard from your customers and clients. With the economic crash and recession the past few years many businesses went bankrupt and many jobs are lost in the economic downturn. This has led to many individuals having issues on their credit reports as reported by the major reporting agencies. If you have a store, you are setting up a website, or an e-commerce business you know how important it is to take credit cards nowadays. Most customers frequently use debit and credit cards in place of cash. We have become a cashless electronic society where very few individuals carry around large amounts of cash anymore. Even after your FICO score is low or bad, we have solutions that can get you setup for processing credit cards at your retail establishment or e-commerce shopping cart business. If you are a new business, or are currently processing with another provider, don't feel let down if you have been declined or denied a merchant account by another bank do to your credit history. It can leave a terrible feeling when you are denied or decline by a credit card processing company do to something as simple as your personal credit score. Banks use this as a measurement of your worthiness for underwriting your account. Even employers use credit scores nowadays for hiring and firing.
Be wary and suspect of any bank claiming to give you a "instant approval" for your account with this type of issue. No legitimate bank will process your application without a thorough vetting of your business. It is likely a scam or a way for the processor to hold your funds after approving you only to be dropped a few weeks later with no processor and your funds being held. There is no such thing as an instant approval for an applicant who has credit problem. You are likely being misled by an unscrupulous agent or representative that is promising you something that is unrealistic and cannot be delivered. Considering the economic crash of the past few years no banks will offer any type of instant approval especially for someone who has credit problems.
- Travel Agencies & Businesses
- Adult Websites and Retail Establishments
- Tobacco Companies
- Small Businesses & Startups
- E-Commerce Companies
- Doctors, Lawyers, Dentists, Professionals
- Restaurants and Food Establishments
- Offshore Solutions
- Contractors and Consultants
- Electricians, Plumbers, HVAC, Landscapers
- Discharged Bankruptcies
- Seasonal Businesses
- Credit Repair & Debt Collection Services
- Lodging and Hospitality
- Online Pharmacies and Nutraceuticals
- New Car Dealers and Use Car Dealers
- Automotive Repair Shops, Petroleum Companies
- Multilevel Marketing Companies
Rates vary depending on your business type and SIC code. Some companies will pay more on your merchant processing rates based on the type of business you have and the risk involved. There are high risk merchant account processing providers like us that specialize in obtaining a credit card processor that is friendly towards those with personal credit issues. If you are a retail establishment your rates will typically be lower than a website or a telephone mail order business. The best way to get started and get the cheapest rates is to give us a call or fill out out our contact us form and a specialist that deals with problems that you face can help you get your account set up and approved.