Merchant Account for CREDIT REPAIR Business
The credit repair industry is a billion dollar industry and businesses work with consumers to help fix poor credit ratings such as disputing errors or mistakes by credit agencies that are found on credit reports. This helps consumers improve their credit and also get back to a better financial situation.
Credit repair companies need to have the ability to process credit cards and accept online payments and will need a merchant account. However, many banks and other credit card processors view credit repair businesses to be high risk and are known to be unwilling to provide them with merchant accounts.
When banks are unlikely to provide a merchant account, many businesses may turn to processors such as PayPal. While your business may be approved at first and be able to accept payment, once a thorough underwriting review is done it is likely that they will freeze and close your account which results in your funds being frozen.
Why is my business high-risk?
Banks and other processors consider credit repair businesses as high risk because they have high chargeback rates. Unfortunately, many customers who are in business with these businesses come from a situation with financial limitations and have been known to initiate chargebacks.
There are several such reasons that have collectively lead to the judgment that the credit repair business is a high-risk profile for the credit card processors. However, as a provider we specialize with high risk merchants and can help.
Whether you are an established or startup collection agency you will come to find it is impossible to run business without a merchant account so it is important to find a vendor who specializes with high-risk businesses and get the right merchant account at a reasonable price.
What we offer:
If your business is established or newly started, we have many options and will work to help you get a merchant account. We offer great rates, and our friendly and efficient staff will work with you to ensure all your needs are met.
We believe in personalized service. We do not charge application fees or setup fees and will offer you the best rates after a thorough analysis. During our analysis, we look at the history of your business and assess the risk involved. We then work with you to come up with a plan and offer you the best solutions to set up your merchant account.
We have experience and work with businesses like yours and have multiple underwriting banks that are able to handle such situations. In addition, we can provide references and recommendations from businesses we work with that are similar to yours.
In addition, we have a simple billing process for clients through recurring billing which is done once per month. Our customer service and support team are available 24/7 to handle any concerns or needs even after you are set up with a merchant account and your terminal is set
