Best Companies for a Credit Repair Merchant Account

Best Companies for a Credit Repair Merchant Account
By max August 14, 2023

In the world of credit repair, finding the right payment service provider is crucial. Some companies are considered high-risk and face challenges in getting a merchant account. However, there are trustworthy companies that offer merchant accounts at fair rates. These companies become valuable allies, helping credit repair businesses succeed. In this article, we will explore the best service providers that provide the best credit repair merchant account. These companies have made a positive impact on credit repair enterprises, making their journey easier and more successful.

Why High-Risk Merchant Account is Needed for the Credit Repair Business?

For a credit repair business to succeed, having a high-risk merchant account is very important. The credit repair industry deals with sensitive financial information and has some risks involved. Many regular payment processors may not want to provide their services to such businesses because of these risks. That’s where high-risk merchant accounts come in.

High-risk merchant accounts are specifically designed to help businesses like credit repair companies. They offer special protections and tools to manage risks, making sure both the business and its customers are safe. With a high-risk merchant account, credit repair businesses can accept credit card payments and handle transactions securely while also reducing the chances of problems like chargebacks and fraud.

Do You Need an Offshore Merchant Account for Credit Repair?

While offshore merchant accounts can be an option for credit repair businesses, they are not always necessary. These accounts can be helpful for businesses looking to bypass the restrictions imposed by domestic merchant account providers. However, it’s essential to consider the costs involved. Offshore merchant accounts can be more expensive than working with a domestic high-risk merchant account provider.

The reason for the higher costs is that offshore providers understand businesses are willing to pay extra to avoid the restrictions of domestic providers. While offshore accounts may offer more flexibility, it’s crucial to weigh the benefits against the additional expenses.

In some cases, a domestic high-risk merchant account provider might be sufficient to meet the needs of a credit repair business without incurring the higher costs associated with offshore options. Therefore, it’s essential for credit repair businesses to evaluate their specific requirements and carefully consider all available options before making a decision about whether or not an offshore merchant account is necessary for their operations.

Top 5 Best Credit Repair Merchant Accounts

While there are several options available in the market, it can be hard to find the best credit repair merchant account for your business. We have reviewed the top 5 best credit repair merchant account providers to make it easy for you to decide:

1.    Host Merchant Services

Host Merchant Services

Host Merchant Services excels in offering transparent and competitive pricing to its clients while also accommodating high-risk businesses and providing innovative solutions such as the cash discounting program. With its commitment to customer satisfaction and comprehensive payment services, HMS emerges as a reliable choice for merchants seeking a partner to streamline their payment processing needs.

Transparent and Guaranteed Pricing

Host Merchant Services (HMS) stands out in the payment services industry for its commitment to transparent pricing. They offer interchange-plus pricing to all clients, ensuring that merchants have a clear understanding of their processing rates and account fees. This approach provides businesses with peace of mind, knowing they won’t encounter unexpected costs or hidden charges. Moreover, HMS guarantees these rates for the entire duration of the merchant account, creating a sense of stability and trust.

Catering to High-Risk Businesses

One of the most commendable aspects of HMS is its willingness to work with high-risk companies and industries. Through a strategic partnership with Electronic Merchant Systems, they accommodate businesses that might face challenges in obtaining payment processing solutions elsewhere. While high-risk services might have different pricing and contract terms, HMS’s openness to support such businesses is highly appreciated.

International Acquiring Partners for Offshore Accounts

HMS goes the extra mile in facilitating international transactions by offering offshore accounts through its international acquiring partners. This option can be valuable for businesses that have a global reach or engage in cross-border activities. By extending their services beyond domestic boundaries, HMS demonstrates its commitment to providing versatile solutions to meet the diverse needs of its clients.

Cash Discounting Program

In addition to traditional payment processing, HMS presents a unique ‘No-Cost Account’ in the form of a cash discounting program. This service proves advantageous for businesses processing over $5,000 per month, as it comes completely free of charge. Even for businesses processing lower volumes, the program is accessible with a small monthly fee.

2.    PaymentCloud

Payment cloud proves to be a top contender in the payment service provider landscape with its customer-centric approach and advantageous features. From its account setup fee waiver to reasonable rates and fees, merchants can experience financial flexibility and transparency.

No Account Setup Fee

PaymentCloud sets itself apart from many other payment service providers by offering a welcoming feature – no account setup fee. This means businesses can get started without any upfront costs, making it easier for startups and small businesses to embark on their payment processing journey without unnecessary financial burdens.

Reasonable Rates & Fees

When it comes to pricing, PaymentCloud maintains a competitive edge with its reasonable rates and fees. Transparent pricing is essential for businesses to make informed decisions, and PaymentCloud delivers on this front. By offering clear and straightforward information about their processing rates and associated costs, merchants can confidently manage their expenses and plan for future growth.

Excellent Customer Service

In the world of payment processing, stellar customer service is a rare gem, and PaymentCloud shines in this aspect. Their commitment to providing excellent support and assistance to merchants is evident through positive customer reviews and testimonials. Whether it’s a technical issue, a billing inquiry, or general guidance, PaymentCloud’s customer service team goes the extra mile to ensure their clients’ needs are promptly and professionally addressed.

Free Credit Card Terminal

For businesses that require a physical credit card terminal, PaymentCloud delivers added value by offering a free credit card terminal. This feature can significantly benefit brick-and-mortar establishments, saving them the cost of purchasing or leasing a terminal separately.

3.    Soar Payments

Soar Payments

Soar Payments stands out as a reliable and customer-focused payment processing partner, particularly for high-risk businesses. With its tailored solutions for high-risk industries, automated custom price quoting, easy application process, and fast underwriting, Soar Payments offers a seamless and efficient experience for merchants. If you’re in search of a comprehensive suite of payment processing features with a focus on exceptional support for high-risk ventures, Soar Payments is undoubtedly worth considering.

Exceptional Support for High-Risk Businesses

For high-risk businesses seeking top-notch payment processing solutions, Soar Payments emerges as a leading option. The company’s dedication to serving high-risk industries sets it apart from many other providers. Soar Payments understands the unique challenges faced by high-risk businesses and tailors its services to cater to their specific needs. With Soar Payments, high-risk merchants can access reliable and efficient payment processing without compromising on quality.

Automated Custom Price Quoting

Transparency is a key factor when choosing a payment processing partner, and Soar Payments excels in this aspect. Through its automated custom price quoting system, the company provides businesses with clear and accurate pricing information. This feature enables merchants to understand their processing rates and fees upfront, allowing for better financial planning and decision-making.

Easy Application Process

Navigating the application process for a merchant account can be a daunting task, but Soar Payments streamlines this experience. The company’s user-friendly application process ensures that businesses can quickly and efficiently apply for their payment processing services.

Fast Underwriting

Time is of the essence for businesses, and Soar Payments recognizes this by offering fast underwriting services. The company’s efficient underwriting process means merchants can get approved for their merchant accounts promptly.

4.    InstaBill


InstaBill stands out as a versatile and customer-centric payment service provider. Its willingness to work with various industries ensures businesses from all sectors can find suitable solutions for their payment processing needs. The emphasis on good customer service provides merchants with reliable support, giving them peace of mind and the confidence to focus on their core business activities.

Versatility Across Industries

InstaBill emerges as a flexible payment service provider, willing to cater to a wide range of industries. Whether you’re in retail, e-commerce, healthcare, or any other sector, InstaBill will likely have solutions to accommodate your payment processing needs. This level of versatility is especially beneficial for businesses in niche or high-risk industries that may face difficulties finding suitable payment processors elsewhere.

Dedicated Customer Service

A standout feature of InstaBill is its commitment to providing good customer service. The company understands the importance of reliable support for merchants navigating the complexities of payment processing.

Global Reach with International Merchant Accounts

For businesses with international clientele or those seeking to expand their operations globally, InstaBill offers international merchant accounts. This feature allows merchants to accept payments in different currencies and opens up new opportunities in international markets. By facilitating cross-border transactions, InstaBill helps businesses tap into a broader customer base and navigate the complexities of global commerce.

5.    PayKings


PayKings stands out as a reliable and customer-oriented payment service provider, offering a range of features to meet the diverse needs of businesses. The multicurrency support opens doors to global markets, while eCheck processing provides added convenience and security for merchants and customers alike.

Multicurrency Support for Global Businesses

PayKings distinguishes itself by offering multicurrency support, making it an ideal choice for businesses with international operations or clients. This feature enables merchants to accept payments in various currencies, providing convenience to customers and facilitating smoother cross-border transactions.

Convenient eCheck Processing

In addition to traditional payment options, PayKings provides eCheck processing, adding flexibility to the payment methods available to merchants. eChecks offer a secure and efficient alternative to paper checks, allowing businesses to process payments electronically, reducing the risk of fraud, and expediting payment processing times. With eCheck processing, PayKings demonstrates its commitment to offering comprehensive payment solutions to cater to diverse business needs.

No Setup or Application Fees

One of the standout aspects of PayKings is its customer-friendly approach to pricing. The company does not impose any setup or application fees, providing businesses with a cost-effective and transparent payment processing experience. By eliminating these additional charges, PayKings ensures merchants can get started without any upfront financial burden, making it particularly appealing to startups and small businesses.


Choosing the right payment service provider is a critical decision for businesses, especially for those in high-risk industries like credit repair. The best companies offering credit repair merchant accounts not only provide reasonable rates but also offer tailored solutions and exceptional customer support.

These service providers understand the unique challenges faced by credit repair businesses and are willing to work with them to ensure smooth and secure payment processing. From transparent pricing and efficient application processes to the availability of offshore accounts and cash discounting programs, these companies offer a comprehensive suite of features to support credit repair enterprises. By partnering with a reliable payment service provider, credit repair businesses can focus on their core mission of helping clients improve their financial health and secure a brighter future.

Frequently Asked Questions (FAQs)

What is a credit repair merchant account, and why do I need one?

A credit repair merchant account is a type of payment processing solution designed specifically for businesses in the credit repair industry. It allows credit repair companies to accept credit card payments from their clients securely and efficiently. You need a credit repair merchant account to streamline your payment operations, build trust with your customers, and ensure compliance with financial regulations.

Are credit repair businesses considered high-risk, and how does it impact my merchant account options?

Yes, credit repair businesses are often categorized as high-risk due to the nature of their services and the potential for chargebacks or disputes. Being classified as high-risk can make it challenging to obtain a merchant account from traditional payment processors. However, some specialized providers offer high-risk merchant accounts tailored to the needs of credit repair businesses.

What are the key features I should look for in a credit repair merchant account provider?

When selecting a credit repair merchant account provider, consider essential features like transparent pricing, efficient application processes, strong customer support, and the ability to handle multicurrency transactions. Additionally, it’s crucial to find a provider with experience in the credit repair industry and a solid understanding of its unique challenges.

How long does it typically take to get approved for a credit repair merchant account?

The approval time for a credit repair merchant account can vary depending on factors such as the complexity of your business and the provider’s underwriting procedures. Generally, it can take anywhere from a few days to a couple of weeks for approval.