CDG Commerce thus far has been a FANTASTIC experience. I am getting spoiled with all of the transparency. (they show WHEN deposits are to be made, and how much, they notify of a chargeback, just to name a few)
Ok now to the problem:
I have been given a $12k/mo (how does the volume thing work? is it on a 30day cycle, or is it month by month, like nov 1st it will reset? )volume, which I am quickly approaching. I have contacted them about what to do to increase my limit, but they require two months bank history. I have just setup the bank account just recently, and do not have much history. I do have all of the funds that they have deposited into my bank still sitting there (letting it build up).
Now, what should I do? I have had one chargeback, so my CB % is at 0.26% currently. I have no reserve.
Should I fax them my bank statements anyway? And perhaps ask if they could increase it with a set reserve?
Every day my sales have been going up. Yesterday it went up to $2,200, and today it looks like it will be close to the same.
So should I ask for a specific amount? I would really need $100k limit, as that would give me more breathing room. Is this too much to ask? I have good credit (740ish), all of the funds that have been sent to me is still sitting in the account, and I am completely fine with a reserve (I can be completely happy with only 50% of my daily batch if it comes down to it).
If you feel like you've done good business in the past with them, just make the same points that you made here to one of their reps and my guess is that they'd be willing to work something out. If you're doing 12 grand a month and you've only had 1 chargeback, I'd consider that a pretty good track record
My suggestion is to go ahead and fax us the statements you have and let our risk group know exactly what you just mentioned above. Please let me know if I can be of any assistance to you as well. Thanks!
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