As a credit repair business, we’ve always had the goal of helping financially challenged clients get back on their feet and rebuild their financial futures. For many years, we worked on offering the best service we can. Unfortunately, despite our high volume of clients, it doesn’t mean that we’ve had it easy.
Although credit repair is expected to become a $7 billion industry, it is also tagged as a high-risk business because of the high risk for “friendly” fraud. Friendly fraud translates to high chargeback rates that generally come from clients with recurring billing who don’t cancel it properly. Additionally, the mere fact that our clients are financially strapped individuals who might not be completely honest with their situation and could leave us empty-handed at any time is another contributing factor to our high-risk status.
This made it hard for us to find a good credit repair merchant account that would allow us to operate more seamlessly as well as process payments more conveniently for our customers. Then, we stumbled upon First Card Payments, which offered us the merchant solutions we needed for our business to do well.
All the contracts are clear.
This is one of the things I loved about First Card Payments; they’re very transparent about the plans that they offer and even give you some flexibility, so you can really find one that will compliment your business well. For one, they don’t charge any application or setup fees, which is rare for high-risk merchant accounts.
We committed to a long-term contract and have been with First Card Payments for many years now.
We don’t spend a lot on merchant fees.
As a high-risk business, we already knew that we’d be charged higher fees, but First Card Payments is the only company that offered us up to 25% savings on merchant fees.
We asked why and our account manager explained that the company understands how hard it is for businesses to grow if most of their income goes to these fees. We appreciate their commitment to helping us thrive in our industry.
One of the best things about doing business with First Card Payments is the company’s range of solutions for problems that make credit repair a high-risk business.
If you have high chargeback rates, card-not-present (CNP) transactions, or bad credit, the company can offer solutions to help improve your status and ensure that you can do better as a business in the future.
So, if you’re a credit repair business like us and you’ve been struggling to find the right high-risk merchant account for your business, get in touch with First Card Payments to understand the options available to you and make them your trusted payment processing partner.