I got bad credit rating, but i want to apply for a merchant account?

If you have had a bank account in good standing for a few years with little or no overdrafts and a solid amount of money in it then banks sometimes use this in their credit decisions. That is about all I can think of to help you out. Bad credit is just that, bad credit.

You can still get an account, but your rates will be high. What you are referred to is a “high risk merchant account”. If you Google for that, you will find many providers. I’d first try Durango Merchant Services, and then look to high risk specialists like Instabill. You should also try PayPal even though your credit is bad.

Applying for credit card merchant account services is quite easy. Once you shortlist your prospective underwriters to 3-4, compare their fees and features. Few companies who are the market leaders, use their reputation to charge premium for their merchant account services. Others are just beginners, so they can lower, waive or skip some fees, to procure your business. But they may charge you fees after 1 year or a trial period. Read the terms and conditions properly to understand the working of the account, its related expenses and likely pitfalls. Contact the lender about your doubts and questions, before filing your application to open an account. Then once you are approved, you can rest assured that your choice was right.

If you’ve got bad credit rating (which ***** by the way), you can try 3rd party processor. Most banks & brokers are unbelievably strict when it comes to credit rating, so don’t waste your time on them. Hence, look for a 3rd party processor like:

or a merchant account provider for high risk merchants. They’ll be able to provide you with a merchant account despite your bad credit rating.