Is Your Credit History Haunting Your Ability To Get A Merchant Account?

Oct 21, 2013

It’s still not impossible to bring the dream to light. Bad credit history does not mean they took your birthday away. It just means you have some repair work to do. Before you even start looking for the merchant account servicer, you have a few things to get done. Start at the beginning and hunt down what has gone wrong.

1. Call the credit bureaus, or just go online. Get a copy of your credit report and find out who says you owe them money.

2. Verify they are the ones to that you do owe money. Sometimes erroneous businesses will seek money that is not from you, and they get the social security number wrong. Go through the steps and be certain they belong to you.

3. Step by step contact those that you owe and make payment arrangements. If you can, pay them off altogether. You need these cleaned up, or at the very least showing you are paying.

4. Follow through with your plan and follow the credit agency. Meaning, that as you pay the bills, be sure that the business that ruined your reputation, is also reporting a positive payment history into your credit statements as well.

5. After you have done this, begin searching for your merchant account servicer. This way, you can positively state truthfully that your credit woes are on a positive track.

6. Once you have found who you want to do business with, take the time to go over your credit with them if they are worried about your track record.

7.  Negotiate and feel good about your merchant account. You don’t want to be blinded by anything that you are unsure about. Cover all your bases and know that you are getting the best deal for yourself and your business.

If you can do any of these steps, your business will be on the right track from the start. It will help you out with your bad credit merchant account, and it begins a healthy business relationship. Not to mention you start off on the right foot by learning how to stay on track.

We all know things can happen in life that we didn’t expect at all and following the program above is easy, although not always the least embarrassing thing to have to do. But, if you do them, your business will be healthier overall.

Always options

Don’t pin yourself down to the ground when it comes to credit issues. A lot of people just roll over and give up. It’s way simpler than that. You have co-signers that can help when needed. You can plead your case and most of all; show your business in a positive light. Give the bank or creditor or the merchant account servicer, something else to look at. Do not dwell on the negative, because that gives too much to things of the past. You want them to see the future and the good things you are doing with your business. Good luck!!!



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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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