Credit Card Processing Poor Credit | Bad & No Credit Merchant Account

There are many challenges when setting up a business. Obtaining a merchant account should not be one of them, even if you have less than perfect credit. The Transaction Group (TTG) sets up credit card processing for merchants with poor credit on a daily basis.

If you have a new or existing business and need to accept credit cards but are unsure about whether or not you’ll be approved because of bad credit or no credit, look no further. TTG will save you time and money. We’ll take the time to answer all your questions and let you know what to expect.

At TTG, we work with all types of businesses and provide the best merchant account solutions based on individual needs. We specialize in providing high risk merchant accounts, including merchant accounts for people with no or poor credit. Getting started is easier than you may think.

Some merchant account providers will tell you how difficult it is to be approved for a credit card processing account if you have bad credit. To prevent you from shopping around, they may tell you that their solution is the only one and offer a rate higher than you expected to pay.

In reality, it is not that difficult to get approved. It’s actually more difficult to get approved with no credit than bad credit. In either situation, yes, you will pay a higher rate at first. Down the road, you’ll be able to renegotiate the rate.

How Processing History is Similar to Credit

Once approved, it’s important to develop a good processing history. Just like rebuilding personal credit, building a solid track record in processing will show banking processors that you are working hard to keep your customers satisfied.

What processors look for in processing history is the number of charge backs by customers. A high rate of charge backs and returns is usually an indication that a business is not operating with customers’ interests in mind.

If the charge back ratio exceeds the number allowed by Visa and MasterCard, processing banks are penalized with fees. Businesses with poor processing history or no processing history will pay higher rates to cover this risk.

High Risk Merchant Account Provisions

High risk merchant accounts usually carry provisions such as:
•    increased waiting times for funding
•    security reserve requirements
•    limits to size and volume of transactions
•    higher rates and fees

Like credit repair services, some processors will offer programs that provide merchants with processing advice regarding their high risk merchant account. Some topics included in these programs help merchants understand how to avoid change backs as well as how to operate securely, reducing the potential for fraud.  Merchants are encouraged to take advantage of these options if possible.  Lowering the risk of your business to the processor is the only way to earn a lower rate.

Get Approved with Poor Credit Now:

As stated above, TTG provides credit card processing for merchants with bad credit regularly. We understand that it can be frustrating trying to find the best solution, and even more challenging when your credit isn’t perfect. We have strong relationships with banks throughout the world and are able to approve just about any business with the most competitive rates.

If you need a merchant account solution for a new or existing business and have poor credit or no credit at all, TTG would be happy to help. Click on the appropriate link below, or call us right away.

Contact Us

Need immediate assistance? Complete this form or call us today at 888-383-8056.

Are you shopping for a better rate? Let us save you money!

Most merchants are unaware that interchange rates are adjusted as much as 2x per year. Over the course of several years, those adjustments can hike up a merchant’s rate and cost the merchant thousands in processing fees. Contact us via the form above, or call us today at 888-383-8056. Chances are, we can save you up to 25% over your existing rates and fees!

Why do businesses choose to work with The Transaction Group? 

  • We aim for 100% customer satisfaction. We understand that the customer comes first. At the end of the day, if the customer is not happy, we’re not happy.
  • We offer a FREE rate analysis to every business. In most cases, we can save a business up to 25% on existing rates and fees. But if we can’t beat a customer’s rate, we’re upfront from the start. We don’t waste the customer’s time.
  • We are reliable and always available. If a customer has any concerns, we’re available even after business hours. We’ll address any issues immediately.
  • We don’t believe in one-size-fits-all.We provide solutions based on the specific requirements of each and every business. What’s best for one small business may not work for another.
  • We have a fast & easy setup process. In most cases, we offer a fast and easy approval and set up. While some high risk businesses can have longer underwriting times, we keep the customer informed throughout the process and work for fast approvals.
  • We have solutions for every business type. From low-risk card-present credit card processing solutions to payment processing solutions for high risk e-commerce stores, we’ve got it all.

Let’s Work Together.

At The Transaction Group, customer satisfaction is our priority. Allow us to show you what we can do for you.

Let’s Work Together.

At The Transaction Group, customer satisfaction is our priority. Allow us to show you what we can do for you.