When starting a business it is crucial that your business have a merchant account if your business sells products or services, especially online. When considering the process to apply for a merchant account, it is important to consider many factors. This includes credit history.
Getting a merchant account with bad credit can seem like a difficult prospect. Bad credit can impact many different aspects of someone’s life, and the process of obtaining a merchant account is no different. It can be a long process to raise a credit score.
Having bad credit is a common reason for denial for a merchant account. But there are many different places where getting a merchant account with bad credit is not difficult. Many places are willing to work with business owners who have bad credit to help them get started.
Bad Credit History
There can be many reasons for someone to have a history of bad credit or a low credit score. A history of not making payments, having a lot of accounts, or just not having a very long credit history can all be calculated in a credit score.
Having a bad credit score can cause someone to be considered a high-risk candidate for loans and can impact many parts of someone’s life, including the applying for a merchant account.
Improving a credit score can take a long time. When starting to apply for a merchant account, it can be useful to consider where your credit is and your plan to make it higher if it is not where you want it to be. If it is low you can still get a merchant account and improve your score at the same time, as long as you select the right merchant account provider.
There are merchant account providers that understand that bad credit should not have to be a burden when starting a business and are willing to work with high-risk candidates. Bad credit should not stop a new business from being successful. Someone with bad credit can apply for a merchant account and be approved.
Applying for a Merchant Account
The process to apply for a merchant account is straightforward and can be done online. The merchant account provider just needs some information about the business. Once the application is approved then a business can begin to accept credit card payments. Even getting a merchant account with bad credit is possible with the right merchant account provider.
To sign up for a merchant account–even with bad credit–you can visit Charge.com or call (888) 924-2743. Charge.com looks forward to working with you and helping your business to succeed.