Comments on: Do they run a credit check when you apply for a merchant account? http://findyourmerchantaccount.com/331 The Best Merchant Account Reviewed Mon, 12 Dec 2011 11:11:38 +0000 hourly 1 By: youtube.com/info720 http://findyourmerchantaccount.com/331#comment-319 youtube.com/info720 Tue, 31 Mar 2009 02:49:36 +0000 http://findyourmerchantaccount.com/331#comment-319 Yes. They'll run a credit check on the principal of the business. The only time they don't run this credit check is when the business is owned by multiple owners with no owner or no two owners own more than 50% of the company. Each provider varies slightly with this requirement, but yes, you will have a credit check. There are several companies that will still approve you, even with a Ch. 7. However, they may approve you with a reserve, meaning they'll hold a certain percentage of your funds, or they may also approve you with a lower processing limit. The underwriters I've spoken with usually look at much more than just the FICO, so if there is a something that should be made known to those approving the account, i.e. the reason for your Ch. 7, you can include a letter of explanation to the underwriters which may paint you in better light. Good luck. Yes. They’ll run a credit check on the principal of the business. The only time they don’t run this credit check is when the business is owned by multiple owners with no owner or no two owners own more than 50% of the company.

Each provider varies slightly with this requirement, but yes, you will have a credit check.

There are several companies that will still approve you, even with a Ch. 7. However, they may approve you with a reserve, meaning they’ll hold a certain percentage of your funds, or they may also approve you with a lower processing limit.

The underwriters I’ve spoken with usually look at much more than just the FICO, so if there is a something that should be made known to those approving the account, i.e. the reason for your Ch. 7, you can include a letter of explanation to the underwriters which may paint you in better light.

Good luck.

]]> By: cholula2245 http://findyourmerchantaccount.com/331#comment-318 cholula2245 Sun, 29 Mar 2009 04:47:29 +0000 http://findyourmerchantaccount.com/331#comment-318 body do not worry about just get paypal or alertpay those are easy and free to sign up and the will not check your records body do not worry about just get paypal or alertpay those are easy and free to sign up and the will not check your records

]]> By: ibu guru http://findyourmerchantaccount.com/331#comment-317 ibu guru Fri, 27 Mar 2009 17:01:02 +0000 http://findyourmerchantaccount.com/331#comment-317 Yes, they check both your company and your personal credit ratings. Yes, they check both your company and your personal credit ratings.

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