Thursday, September 14th, 2017
Are you running a business in the UK and looking for a reliable merchant account to take your business to the next level? Be aware, with bad credit, you won’t be able to easily get approved for a merchant account since traditional banks and the majority of payment processors prefer to stay away from businesses with poor credit. To get the very best deal available to you, you should turn to the right merchant account provider in the industry.
Merchant Accounts with Bad Credit
Your credit will be classified as bad if you (or your business) have a negative record of credit history. Credit reports reveal details concerning past borrowings and repayments, as a result of which a credit score is being determined based on various factors such a past levels of debt and late or missed repayments.
Poor credit ratings make your business look risky in the eyes of merchant account providers. So, bad credit can hamper access to financial services, including credit card and mortgage applications, as well as minimize your chances of obtaining a merchant account. That’s why it’s immensely important to find a reputable payment processor in the field that specializes in the high risk industry to apply for a merchant account with bad credit.
Here, it should be mentioned that unlike low risk merchants, those who have poor credit may end up with higher fees associated with a merchant account with bad credit. However, respectable merchant services providers won’t consider bad credit the end of the world and will help bad credit businesses secure a lower-cost and secure merchant account without major challenges.
Applying for a Bad Credit Merchant Account
When applying for a merchant account with bad credit, you should be perfectly honest about your financial circumstances with the provider. Experienced merchant account providers must be able to help you in areas like:
- Merchant account with poor credit rating
- Merchant account with bad personal credit
- Instant merchant account no credit check
- High risk merchant accounts with bad credit
With the right high risk specialist in the field, you’ll enjoy:
- Approvals within 24-48 hours
- High risk rates as low as 2.99%
- High risk account specialists
- No application fees
- No setup fees
- No annual fees
- No gimmicks
- Chargeback protection services
Even though your application will be looked at a little more closely, with payment experts, you can be sure to find the right solution. The true professional in the field will offer you the lowest rates, most favourable terms, best customer service, and will provide consultation for free.
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