With a majority of Americans deep down in debt, there’s a huge need for solutions that will help them get out of high-interest loans that will only make it harder for them to repay everything. This is where our business comes in.
As a debt consolidation company, we specialize in offering solutions for clients who have multiple high-interest loans where we consolidate everything into a single low-interest loan that they will pay from us.
This way, we can help them reduce the amount they need to pay from each loan provider each month by eliminating those high-interest rates that can only bury them deeper in debt.
But being in this kind of business also puts us in hot water all the time, especially since we’re dealing with financially strapped clients who might not be able to repay us in time or at all.
That is why we’re tagged as a high-risk merchant and for many years, we’ve struggled to find a payment processing partner to help us with our operations.
We’ve tried financial institutions and banks, but they refused to take on high-risk merchants like us because it also poses a high risk to their business. Thankfully, we came across First Card Payments.
Why we chose First Card Payments
Among all the merchant account providers that we’ve tried, First Card Payments really impressed us for many reasons.
This company has been helping high-risk merchants like us get their own merchant accounts and we were granted our own debt relief merchant account where we get to enjoy these benefits:
- We didn’t pay any application or setup fee. We were pleasantly surprised since the other companies that we’ve dealt with had very heft application fees just so we could be granted our merchant account.
- We didn’t have a hard time getting approval since First Card Payments has strong partnerships with more than 30 banks and independent service providers. It also took us only a few days to get our high-risk merchant account, which was such a positive experience since we’ve been looking for a reliable partner for a long time now.
- We started with a month-to-month agreement to test our waters with the company. This is an incredible option, especially for small businesses that don’t have a huge budget to get into a long-term contract yet. Over time, First Card Payments has proven its credibility and now, we’re in a long-term contract with them.
Finally, this company has always been committed to helping its clients offer the best service to their own customers.
First Card Payments don’t just help you find the right payment provider. It also offers solutions that will give better credibility among financial institutions, so you’ll eventually be off the high-risk merchant market.
For instance, if you’re suffering from high chargeback rates, the company can offer you a solution to reduce those rates and not let your business suffer from huge monetary losses.