Processing Credit Card

Processing Credit Card Services: Do You Qualify?

One of the main concerns of businesses is if they will actually qualify for small business credit card processing services. When it comes to qualification, credit card processing companies will assess a company based on a number of factors. Bad credit or problematic credit does not necessarily disqualify you for approval. You will find that you may have to pay a bit more for processing credit card services if you do have credit issues however.

Credit card processing companies conduct a check on your background to ensure that you have a valid company. Your credit will be checked to make sure that your business is on the up and up. You may have to supply references if requested. The small business credit card processing company will question how many chargebacks you might end up with during the regular course of business. If you sell items that are deemed tangible items, you have a greater likelihood of being accepted; these items seem less risky to small business credit card processing companies.

If you will be using a face to face form of credit card processing, you will also have a greater likelihood for approval. These types of transactions allow you to validate the identity of the card holder and they are not often associated with chargebacks. You can still get approved for small business credit card processing even if you do not use face to face processing methods, but you have an increased chance of approval when you are working with one-on-one payment methods. You can definitely anticipate higher fees with methods that involve phone processing or Internet processing. If you have ever worked with a processing credit card company you will need to give the new company some statements so they can assess your chargeback rates too.

 

 

 
Name of Business: *
Owner or Contact Person Name:*
Email Address:*
Telephone Number:*
FAX Number:
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Website Address (if any):
Type of Account:
Do you currently accept credit cards?
Estimated Sales per Month:
Owner Personal Credit:
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* REQUIRED