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Credit Repair Merchant Account

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How to get a Great Merchant Account for your Credit Repair business WITHOUT getting taken to the Cleaners…

From the Desk of Chris O’Connell

Re: How to Avoid paying too much for a Merchant Account for your Credit Repair Business

Hi, my name is Chris O’Connell. In the next couple of minutes, I am going to show you how to get a great merchant account and avoid being taken advantage of by high cost service providers.

If you are just starting a credit repair business, you are going to need a merchant account that accepts credit repair business. But, did you know the merchant industry categorizes these accounts as “High Risk” and expect to charge you accordingly?

Here is the problem you face: as a new credit repair business, you will likely have little or no previous merchant account transaction history to prove you are not a high risk for a merchant account.

Credit Repair Merchant Accounts are considered “High Risk” because:
• Charges are often high dollar and reoccurring – This is often a common pattern of fraudulent transactions
• Risk of chargebacks – Clients that aren’t happy or can’t afford service will try to dispute charges with their credit card company
• Bad actors of the past – Many ill-intentioned people got into the credit repair business to make a quick buck but did not follow the law or provide good service.

In fact, most merchant service companies, banks, and payment platforms prohibit credit repair.

Without a merchant account that specifically allows for credit repair business, you might be tempted to go with another payment platform like Square, Stripe, Paypal, or Intuit. But don’t because this could really be a BIG MISTAKE!!!.

Square, Stripe, PayPal and intuit all prohibit Credit Repair in their user agreements and terms of use.

Because, if caught using one of these for credit repair, your account will be suspended, your funds could be held up for a long time, you might be fined, and your account will likely be closed.

Even worse, you could end up on a list of barred merchants called the Terminated Merchant File (TMF) that will prevent your business from being able to open another merchant account with any one

How are you ever going to reach your dream of owning and growing a profitable credit repair business, if you can’t even take payments for your services?

I own a credit repair business and was in your same situation. The rates and contract terms I was quoted by the first 8 merchant service providers I applied with, were just too high priced or required business terms I just was not comfortable agreeing to.

Sure, I agree to be a compliant credit repair business, but I did not want to:
• Agree to a 24-month contract because I would have been stuck for two years
• Lose 6% to transaction fees from every credit card transaction. That’s giving up $6 for every client with an average invoice of $100, per month
• Pay over $100 per month just to have a merchant account
• Risk a $595 termination fee, if I could not fulfill the 24-month contract or wanted to switch merchant providers
• Wait more than 210 days to get my reserve money returned, if at all

Lucky for you, I know the solution that will take away the pain of trying to find a good merchant account provider that will welcome your credit repair business…

Let me introduce you to MagicPay Merchant Services for Credit Repair.

MagicPay Credit Repair Merchant Account features:
• Low $30 per month merchant account fee
• 2.95% Processing Fee
• $0.25 per transaction
• No Setup Fees,
• No Contract
• No Home Inspection

If you also need a payment gateway to work with your new merchant account, and MagicPay can help you get one for as little as $15 per month

APPLY FOR MAGICPAY NOW

HOW IT WORKS

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Merchant Account Application only takes a few Minutes

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There will be some documents the bank requires you to provide

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Get a Merchant Account so you can finally take Credit Card Payments

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