Discover’s newest offering helps your credit repair business
Do you watch much TV? Have you seen the recent advertisements for Discover offering FICO scores for free? If not, check out the details online. Nearly every customer will be able to view their FICO score on their month-end statement at absolutely no cost. It’s good news for their cardholders AND your credit repair business.
An informed customer is a valuable customer. When clients come to you knowing exactly where their FICO sits, it makes your job of helping them that much easier. Further, if they have taken the initiative to find out why their score is lower than they want, it makes the initial consultation go smoother as well. As you help them improve their credit score over time, they will be able to see the results every month without having to pull their own credit report. It’s likely that other banks and card companies will soon offer a similar service to keep them from being at a competitive disadvantage, according to Bloomberg. The more, the merrier.
Discover’s rollout will help thousands of your potential customers wake up to their financial reality. This means there is a brand new market for your services, and you have just the skill set needed to help them achieve their goals. That’s good news for everyone!
When accepting payments for your credit repair services, make sure that your merchant account is specifically approved to accept credit repair payments. If your account gets shut down due to being improperly set up, it won’t matter how much business gets sent your way, because you won’t be able to get funded. Look forward to an influx of customers from offerings such as Discover’s, but be prepared by having a credit repair merchant set up and approved through Capital Merchant Solutions.