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Credit Repair Blog Posts

By First American Merchant

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High-Risk Merchant Account Solutions for Credit Repair Businesses

Everything is high-risk about a credit repair businesses, from its name to the nature of activity it gets involved with. So don’t get shocked if your credit repair merchant account gets terminated or your request to secure one gets rejected. Nevertheless, FAM is now here to assist credit repairing businesses survive and flourish by helping them open accounts and install credit and debit card payment processing solutions. And with our improving economy, you expect to see more Americans look for long-lasting remedies to their financial problems. What’s the Right Merchant Account for Your Risky Business? The features of the high-risk […]

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Hard Inquiries vs. Soft Inquiries— How long Hard Pulls Stay on your Credit?

Sometimes the pressure that comes with running a business may push you into rushing for new loans and seeking new credit cards pointlessly without realizing its effect on your credit score. Lenders may fail to approve you if you have made several credit inquiries depending on the loan you wish to apply for. Achieving good credit and clearing your debts calls for a proper understanding of hard pull vs. soft pull inquiries. It is important to realize that some credit or loan inquiries can negatively affect your score for a very long period, even up to two years. ​What’s a […]

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Expert Advice on How to Start a Credit Repair Business

Establishing a credit repair business is never an easy ride. This path should be trailed alongside a professional who’s been there before. Top credit repair experts are often willing to assist upcoming counterparts grow their credit repair businesses and expand their customer base. It’s no wonder a group of experienced credit repair professionals prepared a list of top tips to mentor entrepreneurs looking to venture into the industry: Repairing credit is not a part-time career If you think credit repair is a part-time job that you can squeeze a day or two every week in your busy schedule for then […]

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Hard Vs Soft Credit Inquiries. Do They Impact Your Credit?

Those who have applied for a small business loan, taken out a mortgage, or signed up for a business credit card, know what credit check or credit inquiry is. A credit inquiry helps lenders and financial entities determine whether you can be eligible for loans or whether they can approve you for home rental, credit card, and so on. Credit Inquiries and Credit Scores Credit inquiries stay on credit reports for a maximum of 24 months (2 years). They’ll only affect your FICO credit score for a maximum of 12 months. To get a better idea of how credit inquiries […]

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How to Get a Credit Repair Merchant Account

A credit repair merchant account is high risk. This means you’ll have difficulty opening one with a traditional bank or financial institution. Fortunately, there are alternative ways to get a credit repair merchant account for your business. All you need is take the time to do some research and find a reliable and secure merchant services provider like First American Merchant to turn to. To get a merchant account for your credit repair business, you should apply to a trustworthy merchant account provider. The merchant account provider will complete the application and send it to the underwriting department for review. […]

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What to Do When Co-Signing for a Relative Goes Terribly Wrong

Unfortunately, this happens all too often. A family member will ask to use another family member’s personal credit in order to open a business credit card. They explain that this will help build his or her creditworthiness and get their business off the ground. Before the unsuspecting individual realizes it, that family member racks up a lot of debt and refuses (or is unable) to pay the bill. Does this sound familiar? While your family member may have a moral responsibility to pay, your creditors view the situation a little differently. In their eyes, if you signed a contract saying […]

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Merchant Account for Your Credit Repair Business

We are First American Merchant, the place where honesty comes first and you go home with a legitimate, legally formed merchant account for your credit repair business. The need for emphasis on ‘legitimate’ and ‘legally formed’ is imperative. This is because you should be wary of the many providers who prefer keeping their hands well-clear from both these words. We, at First American Merchant, take the simple route. A credit repair merchant account is high-risk, something that must not be news for you. This will attract different merchant banks, with hefty promises. They will offer cheap services that involve side-stepping […]

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