When
you accept credit cards, your sales have the potential to
increase as much as 400%.
If a Merchant has Bad Credit, Can They Qualify for a Merchant Account and Accept Credit Cards?
In the not too distant past, it was almost impossible for a person with a bad credit history - or no credit history at all - to obtain a merchant account. Banks, being heavily regulated and subject to strict controls over their activities, rarely saw fit to grant merchant accounts to those without a sterling credit history.
Also, if you are in a business that sells goods and provides services online within the industry sector that have a high chargeback history, you are probably classified as a high risk business. Under such circumstances you might tend to think that the chances of finding a merchant account provider who will offer you service at a low cost are pretty low but that's not the case, anymore!
Today, bad credit merchant accounts can be found for almost every Merchant.
With the recent proliferation of independent sales organizations (ISO's) offering bad credit merchant accounts, it is now much easier for those with bad credit to acquire a merchant account and start accepting credit cards in their business.
As an example, Interent Merchant Accounts declines very few applicants, even those with bad credit ratings. Over 99% of its applicants are instantly approved. It offers free applications, free set up, free shopping cart, free online payment processing software, free sales tracking and fraud screening.
Bad credit is no more a hassle, sign up today and you'll be on your way toward accepting credit cards with your own merchant account and free software, usually within the same day! For face-to-face transactions and those processed by phone, e-mail or fax, you'll receive our online credit card processing terminal, also at no charge.
Yes, times have changed in the merchant account world, and merchant account providers realize that merchants with bad credit histories or merchants in high risk businesses are valuable and do require the ability to accept credit cards.