| Copyright © Philippe de Tiege
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| | about them. You do not want them to find
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| What is a "high-risk" merchant and how do
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| | out something happened different from
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| you know whether-or-not you are in the
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| | what you reported on the application.
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| category? If you are what can you do to
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| | * You may be offered the account but at a
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| change your status? Some examples of
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| | higher rate than what you want, be
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| high-risk merchants include:
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| | willing to accept higher fees if they
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| * Internet or E-commerce
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| | offer it to you. In this way, you can
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| * Telemarketers
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| | prove yourself and eventually move to an
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| * Travel or Cruise companies
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| | account with lower fees.
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| * Internet Auctions
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| | *
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| * Businesses that offer memberships to
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| | The amount of time you have been in
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| join their business.
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| | business is important because those
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| If you own a high-risk business this is
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| | providers of merchant accounts want to
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| not a reason for immediate denial of
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| | make sure you know what is going on and
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| operating with a merchant account.
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| | what is expected of you. By looking at
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| Although you may face a few, more
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| | the time, you have been in business they
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| challenges than other types of businesses
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| | can determine if you understand the risks
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| in acquiring a merchant account. Other
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| | you face and if you know how to prevent
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| factors that are considered when you
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| | fraud and understand the dynamics of
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| apply for a merchant account would be how
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| | managing credit cards. If you have not
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| long your business has been in operation,
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| | been in business long this tells the
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| credit history, how you made payments
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| | merchant operator that you may not be
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| with other merchant accounts or with
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| | ready for this type of account.
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| other processors. This information will
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| | Of course, your credit report will show
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| help those who are considering your
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| | your worthiness to be extended credit as
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| account as to whether-or-not you will be
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| | they look for how you have repaid loans,
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| faithful to your payments.
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| | do you have any liens on properties or
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| If you want to increase your opportunity
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| | judgments that are against you. They want
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| to gain a merchant account here are a few
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| | to see if you have filed any
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| tips that may help you:
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| | bankruptcies. If you have a positive
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| * Take care of your credit report. If you
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| | credit score this will work in your favor
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| have anything negative or that may be
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| | even if your business may be new and if
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| false, clear it up immediately.
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| | you can prove that you are financially
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| * Do not lie or hold back any information
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| | responsible they will look more favorably
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| on other accounts you may have had. If
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| | to offering you a merchant account.
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| you had problems in the past be up front
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