Merchant Accounts for Companies with Bad Credit

March 29, 2013 by  
Filed under Finance & Loans

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It can happen to the best of us — a bad credit score. But for companies with low credit ratings, this can mean the difference between being approved for a merchant account and being denied for one. Unfortunately, without a valid merchant account, businesses can’t sign up for credit card processing online or accept payments from their customers. But there is good news. Just because you have bad credit, it doesn’t mean you can’t get approved for a merchant account. It simply means you have to find the right merchant account provider.

While most merchant account providers and banks turn their backs on companies with bad credit scores, others are waiting with open arms. In order to get approved for a merchant account with your low credit score, find a company with a high approval rate. For example, it can boast to have the highest approval rate in the industry, which means they are known for accepting companies that most people turn away. In addition to approving merchants with bad credit and even bankruptcies, companies with high approval rates might also approve high risk credit card processing. A high risk business or merchant is essential any internet company as well as telemarketers, merchants in the travel industry, and membership clubs.

If you’re searching for credit card merchant services, but have a low credit score, don’t settle for high rates or constant rejection. We recommend applying for an account. The application process is quick, simple, and most importantly, it’s free.