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Thread: Not great credit, can I get merchant account?

  1. #1

    Default Not great credit, can I get merchant account?

    Is it possible to get a merchant account when your credit iis not so good, no bankruptcy or anything like that just not great credit. Paypal ran a credit check on me not too long ago, never informed me and it was a hard pull. After that they decided I will have to wait for 21 days until I get my money and that is not going to work for me. I need the money to buy inventory. So my question is would I be able to get a merchant account or would there be some kind of delayed payout or reserve required with less then stellar credit?

  2. #2
    Join Date
    Jan 2012
    Posts
    5

    Default Have a care with your credit history

    "I need the money to buy inventory" - have you considered taking out a loan to fund your stock?

  3. #3

    Default

    Sure one can take out a loan but the point is you shouldn't have to. A loan cost money and why pay for money when you have money? Having PayPal tie up funds like that is just wrong and for small businesses to make you need cash flow and not paypal to sit on all your earnings.

  4. #4
    Join Date
    Nov 2011
    Posts
    162

    Default

    anyone running a real business has a merchant account instead of Paypal. paypal is for small time sellers who don't want to pay a monthly fee (but instead get butt raped with the % paypal charges).
    It is impossible to run a business with the pay out delays and hassle paypal creates.

  5. #5

    Default

    Quote Originally Posted by 49ers4ever View Post
    Is it possible to get a merchant account when your credit iis not so good, no bankruptcy or anything like that just not great credit. Paypal ran a credit check on me not too long ago, never informed me and it was a hard pull. After that they decided I will have to wait for 21 days until I get my money and that is not going to work for me. I need the money to buy inventory. So my question is would I be able to get a merchant account or would there be some kind of delayed payout or reserve required with less then stellar credit?
    my credit is not good, not horrible but not all that great either. This didn't affect me getting my merchant account. I was told that as long as I didn't have an open bankruptcy I qualified and got approved.

  6. #6

    Default

    Paypal do credit check on me to without telling me first which jeopardized a house purchase I was in the middle of, they tell you to not pull any credit while in the pending process. Paypal should do credit check when you apply or not at all. I never gave my consent.

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