How to get Merchant Account Approval with Bad Credit

Internet merchant accounts are essential for small businesses in 2020 for a few reasons. Not only were alternative payment methods already becoming more in demand, but the coronavirus lockdown has sharply accelerated this process. People now expect to be able to use their credit card no matter what they’re buying, whether it’s a service online, a hotdog at a street cart, or anything in between.

Businesses that can’t offer credit card payment services to their customers could lose sales–and also lose professionalism. However, internet merchant accounts aren’t as easy to open with bad credit or a shaky financial history, which may also affect your rates.

That’s why it’s important to find a merchant account provider who will work with merchants that have bad credit or that might seem like a risk due to their financial history. Businesses may not be able to negotiate their rates when they’re high risk, but if they know how this risk is calculated, they can shop more wisely when choosing an internet merchant account provider.

What is an internet merchant account?

Merchant accounts allow businesses to process their customers’ credit and debit cards. The software and services they provide can include security features, point of sale software, and access to a payment processor to make the transactions between banks.

Small businesses may find themselves in need of an internet merchant account now, even though their conventional point of sale systems may have sufficed before the lockdown.

Though a merchant account for people with bad credit may not seem in every business owner’s reach, certain things can be done to make the process easier.

How does bad credit affect eligibility?

A bad credit score or a messy financial record could make an internet merchant account more difficult to obtain for a business owner. It’s important to speak with account providers to learn the options for those with bad credit scores. Those options are out there.

Anything that can be done to consolidate or improve debt can make an internet merchant account easier to obtain for people with bad credit.

This includes dealing with loans or bankruptcies as well as closing old accounts. Many merchant account providers work with people with bad credit, so don’t hesitate to shop around and find the best deal for your company.

The Takeaway

Merchant accounts for business owners with bad credit may seem out of reach, but many providers will work with these businesses even if their financial history isn’t great. High-volume clients are particularly desirable, so even a business that has been through troubling financial times can still get the payment software and account services they need to process their customers’ credit and debit cards. is a great resource to use in order to compare products and find internet merchant account services for businesses of any size, no matter their financial history. Visit or call (888) 924-2743 to view their products and services and find the best solution for your business.

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