Merchant Accounts for Start Up Credit Repair Companies

Sep 06, 2012

Merchant Account for Credit Repair

If you’re in the midst of attempting to set up a merchant account for credit repair, you might be in the midst of tearing your hair out right about now. Credit repair businesses have a notoriously hard time getting merchant accounts – in fact, there are only a handful of providers in the United States who even deal with credit repair companies. Why is credit repair such a ‘dangerous’ business in the eyes of most merchant account providers, and how can you get around this problem? Read on to learn the answers.

The Challenges

Credit repair is a unique business in many respects. Unfortunately, the many ‘bad eggs’ in this industry have spoiled easy access to merchant accounts for the honest operators. Because of the rash of credit repair scams in recent years, banks tend to be extremely wary of credit repair operations. Many credit repair ‘businesses’ are really just thinly veiled cons – they take payment from a client upfront and claim to be able to achieve amazing results when it comes to improving credit scores. The reality is that the client ends up empty handed, often deeper in debt and with a worse credit score than ever.

On top of this, the very nature of the way credit repair companies operate makes them unusually risky in the eyes of most banks. Because your customers are people who already have financial problems, the risks of non-payment, chargebacks, and disputes on transactions from accounts managed by credit repair companies tend to much higher than for a typical low risk business.

As a result of these and other factors, most banks won’t go near credit repair companies when it comes to offering merchant accounts – and the ones that do will often slap on extremely high fees and unrealistic operating conditions.

However, there are many legitimate credit repair businesses out there who genuinely help people with bad credit get into a better financial position – and these legitimate companies need a safe and secure way to process transactions, which won’t put too much strain on monthly expenses. As a legitimate operator, where are you supposed to go to get around the distrust the shady dealers in the industry have created?

The answer many credit repair companies turn to is

How eMerchantBroker Can Help

eMerchantBroker is to go-to provider for credit repair companies in need of a merchant account. If you’re tired of banging your head against the wall trying to get an account set up, eMerchantBroker is the answer to your prayers – not only do they provide merchant accounts for credit repair companies, they even offer same-day approval. In other words, you could literally processing payments with your own merchant account within 24 hours. Their application process can be completed entirely online, and they even help out brand new start-up credit repair agencies who have no existing sales history. If you’re brand new to the credit repair industry, they are your best option by far. (The only extra condition for start-ups is that you’ll have to set up an account with the bank to hold a portion of your profits – this is to cover unexpected chargebacks).


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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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