Biz credit Terminated Merchant File

Discussion in 'Credit Talk' started by Luke, Jul 23, 2003.

  1. Luke

    Luke Well-Known Member

    Does anyone have any experience with this? My brother just had his business put into this. It sounds like a credit report, only now his business can't get a merchant account to process visa and mastercard. They were put into the file because several customers did charge backs on their cards, not because of fraud on his part. This is serious and could put him out of business. Can he get a copy of the file? If so how? Any advice on what to do? The company that put him there, Chase, has awful customer service and they refuse to work with him, even though he doesn't owe them any money.

    Luke
     
  2. direct

    direct Well-Known Member

    He will need to find another credit card processor. Bottom line, if a credit card processor views a merchant account as high risk due to customer chargebacks, they will either require a security deposit to cover future potential customer chargebacks or they will terminate the merchant.

    If your brother is doing everything by the book and is not involved in fraud or a high risk business such as internet porn sites or other businesses that statistically have high charge back volume, then he should not have a problem finding another processor.

    One processor that may be willing to work with him is called Cornerstone Payment Systems http://www.cornerstonepaymentsystems.com/

    direct
     

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