1st Americard Review

1st Americard Logo
3.6
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How did they treat you? ▼

UPDATED 3/5/2019: The 1st Americard website is no longer active, and the company appears to have been acquired by a larger entity (possibly iPayment). If you have any knowledge of 1st Americard's fate or its possible rebranding, please share that information in the comment section below this review.

1st Americard (www.1stamericard.com) is a small merchant account provider that was founded in 1999. Following reports of an owners' dispute in 2009, it is unclear whether the company is still an independent, fully operational entity. One comment beneath this review claims that 1st Americard sold its entire portfolio to iPayment and only processes merchant cash advances at this point. We are unable to independently verify this report, so we will treat the company as a functioning enterprise for the purposes of this review.

1st Americard is located in Charlotte, North Carolina, at 6100 Fairview Road Suite 300, and is a registered ISO of Wells Fargo Bank, N.A., Walnut Creek, California. Kelly Grainger is the company's president, while Greg Grainger serves as its CEO.

1st AmeriCard Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

For a processor of its size and time in business, 1st Americard has a lower-than-expected complaint rate. We were only able to locate three 1st Americard reviews outside of the BBB, all of which are in the comment section of this review. These complaints cite undisclosed cancellation terms, unauthorized debiting of accounts as a penalty for lowered sales volume, and an inability to resolve chargebacks. The 1st Americard website offers two dedicated support phone lines, with one for general support and one for fraud and chargebacks.

1st AmeriCard Online Ratings

Here's How They Rate Online

Online Ratings Summary
Product & Service Complaints 1
Billing & Collection Complaints 1
Advertising & Sales Complaints 2
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.

The Better Business Bureau is currently showing an “A+” rating for 1st Americard with no accreditation. The company has received four complaints in the last 36 months. Of these complaints, one had to do with billing and collection, one was related to the products or service, and two were due to advertising and sales. The majority of these complaints reported unauthorized debiting of penalty fees from merchants’ bank accounts. One of these complaints was resolved to the merchants’ satisfaction, the remaining three either were resolved to the merchant’s dissatisfaction or did not receive a final response from the merchant. In light of this information, we are adjusting the BBB’s rating to a “B.”

1st AmeriCard Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Swiped Rate Variable
Keyed-in Rate Variable
Early Termination Fee Variable
PCI Compliance Fee Variable
Equipment Lease Terms Variable

There is very little publicly available information about 1st Americard’s contract terms. 1st Americard is possibly an iPayment reseller, which means that its standard contract may closely resemble the standard iPayment contract. The company also appears to provide processing for certain high-risk business types, but its rates and fees may vary significantly depending on a business’s sales volume and chargeback rate.

Most complaints about the company cite unauthorized withdrawals of wildly varying amounts that were taken from the merchant’s bank account following a large drop in sales volume by the merchant. One such complaint (found below this review) states that 1st Americard “closed my account, withdrew $1800.00 from my checking account as a penalty” because “my charge volume had dropped.”

1st Americard’s policy seems to be that a major loss of sales volume without proper notification in advance is a breach of contract, and is therefore subject to penalty fees. 1st Americard’s specific fees and terms are not available online, but according to reports, the company appears to offer a long-term agreement with an early termination fee in its standard contract. If you have any specific knowledge of 1st Americard’s standard contract, please leave that information in the comment section of this review.

1st AmeriCard Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

1st Americard appears to hire independent sales agents to market its services. The use of independent sales agents is a widespread practice in the credit card processing industry, and it often produces sales teams comprised of poorly trained, unregulated, paid-by-commission agents. In this case, there is only one 1st Americard negative review regarding deceptive sales tactics, and this complaint can be found in the comment section of this review. Additionally, the company does not appear to engage in any deceptive advertising. We therefore award it an “A-” rating at this time.

Our 1st AmeriCard Review Summary

Our Final Thoughts

1st Americard rates as an above average merchant account provider according to our rating system. The company shows very few complaints outside of the BBB for its size and time in business, although its active BBB complaints page lowered its overall rating to some extent. It appears that 1st Americard is no longer an active business.

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  1. Low Transaction Fees
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