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 account you pick will determine how fast you stabilize and grow. That’s why your vendor of choice should have a history of successfully lifting high-risk companies from scratch to the top. In essence, your financial partner should bridge the gap between high- and low-risk industry categories by ensuring financial security as well as reliable customer support.

Here are more features to look into:

  • Trouble-free application and quick notification of eligibility.
  • Lowest rates and service fees.
  • High security to protect clients’ information.
  • A mobile payment app.
  • Ready-to-use hardware and software.
  • Frequent software and hardware upgrades.
  • 24/7 customer care.
  • Ability to accept all payment forms including checks, ACH or echecks.

Remember, an automated credit card payment system assures you of a steady revenue stream thus keeping you in business for long.

Payment Processing for Cancelled and Declined Credit Repair Companies

Business ideas that get declined by banks die so soon if they owners fail to look up other options. And though credit repair is prone to scams than other businesses, most entrepreneurs venture to help those who don’t have the time and confidence to repairing their credits personally. Besides, financial experts recommend that people handle their credit repair on their own, repair companies should only create time for, guide, and give them the confidence to act.

In short, being high-risk means, you face more setbacks, but you can start in on taking credit & debit payments in a week. You need an account provider who has formed stable relationships with leading local and abroad banks that have customized their merchant accounts to meet the needs of high-risk businesses.

Plus, abide by all federal rules if you want to run a long-lasting business. The Federal Trade Commission (FTC), for the last eight years, has been making an effort to eliminate the market’s nastiest scammers. Therefore you want to meet all the laid down standards to ensure your credit repair business is not questionable.

Conclusion

The business of helping people fix their poor credit is quite risky, and merchant account issuers won’t accept just everyone that comes seeking for one. So before you present your application, be sure to set everything right.

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