Do I need to have proof of a certain level of sales before filling out a credit card merchant account application?
by 3 hours ago
ANSWERS: 3
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No- If you are trying to open a merchant account for your website, they will based the approval on your personal credit history.
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You do not NEED it to open one, they use your credit score or combined credit if you have a co-signer. It would be a good idea to have an idea of exact sales amounts you expect to bring in before opening a merchant account since most of them ask you for that amount so they can set your monthly processing limit. Your limit can be raised, but it's usually small to begin with, especially if it's your first merchant account on record.
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No, but you cannot be a geek off the street either, if your talking merchant account with a bank then it's the full shebang of business plan, transactional history, and startup capital. If it a Jimmy Jhonny online merchant account like Clickbank or Paypal then it's just confirm your identity and prove your accounts.
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