Do I Need a Credit Repair Merchant Account?

May 09, 2014


Credit repair is something that many people get themselves. It is important for people to feel in control of their financial situations. When a person has trouble with bankruptcy or has damaged credit or outstanding bills they tend to look for ways your repair their credit.

It can be complicated to begin a new business. There are some businesses that a person can have no trouble getting a merchant account to use. Several other businesses have a lot of difficulties trying to obtain merchant accounts.

One of the most difficult things to obtain is a credit repair merchant account. Since there are so many groups that have given the credit repair companies a bad name through frauds and imitating groups.

Credit repair or debt collection companies tend to have a high volume of consumers. Credit repair companies tend to be considered high-risk investments to those who process credit cards. In order to accept and process those kinds of payments, the company will need a credit repair merchant account.

Many individuals are searching for ways they can collect their fees from clients for credit repair services. Some think that they can use a separate place where they can transfer money in and out based on sales. One of these companies is Paypal. These acceptable usage rules will not allow payments for credit repairs.

Finding someone to help you obtain a credit repair merchant account can be beneficial to your business. It can be important to know what you will need in order to make the process as simple as possible. You will need to have a driver’s license; the company will want to keep a copy. Another thing that you will need will be 3 months of bank statements as well as your merchant account statements for the most recent 3 months. When getting a credit repair merchant account you will also want to have copies of voided checks or a bank letter with your account number on it.

The only time that gaining a credit repair merchant account can be complicated is if you have never had any processing history. When this is the case, you may need to have a reserve account. However, the reserves are usually released after 3 months depending on the company that you create a credit repair merchant account.


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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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