Best for
Security Credit Services is suited for businesses of any size, with an emphasis on the financial services and banking industry.
Specializes in
Security Credit Services (also called EquiPro Holdings) specializes in investments and purchases, both performing and non-performing account receivables.
Pricing Summary
Setup Fee: $0
Monthly Fee: $20 - $60+
Swipe Rate: 1.00% - 4.99%
Keyed-in Rate: 1.00% - 4.99%
Early Termination Fee : $400+
Contract Terms:
Security Credit Services was established in 1996, but rebranded to EquiPro Investments in 2018. The company is based out of Oxford, Mississippi, with offices in Oxford and Atlanta, Georgia. The rebrand, albeit seemingly and confusingly conveyed as that of ownership on the site, is positioned to have EquiPro Holdings be the face of the organization.
The 2018 rebrand was primarily the result of a brand modification strategy. Security Credit Services still has an account with the Better Business Bureau, wielding a largely negative base of reviews. The rebranded EquiPro Holdings doesn't currently have a BBB profile.
EquiPro Holdings purchases non-performing and performing account receeivables, and has purchased over $13 billion in receivables. Security Credit Services is owned by EquiPro, according to the website.
EquiPro Investments focuses mostly on the acquisition of loan portfolios for creditors. This can range from small to large, significant banks. They purchase receivables and have purchased more than $10B of delinquent and charged-off receivables. It has also partnered with more than 100 creditors. Services for their creditors range from credit cards to bank loans and specialty finance accounts.
EquiPro Investments uses data mining and analytics to make business decisions and manage all aspects of acquisition in the house.
Pricing for its products and services are not available on their website.
After researching EquiPro Investment's reputation online, the overall response is negative, with seven customer complaints.
Head Quarters
Oxford, MS
Year Founded
1996
CEO
Kaye M. Dreifuerst - President
Employees
20
Merchant Provider Risk Tolerance
Zero setup fee.
Domestic telephone support during business hours.
Specializes in the financial and banking industries.
Works with any business of any size.
High risk tolerance.
A Monthly fee is assessed.
Early termination fee.
Public pricing is not available.
All important terms are not disclosed.
Forty-eight month locked equipment lease.
EquiPro Investments specializes in acquiring charge off and delinquent accounts. It acquires various credit types ranging from credit cards, bank loans to specialty finance accounts, and more. The company states that it uses analytics, historical knowledge, and other relevant data to review each potential acquisition of assets.
Discloses All Important Terms
No
Public Pricing Available
No
EquiPro Investments does not list prices and fees on their website. Based on another merchant review, pricing for services is listed below.
Pricing Model
Interchange PlusTiered Pricing
Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Mobile Payment Rate
Undisclosed
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
$20 - $60+
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
$400+
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Undisclosed
Application Fee
Undisclosed
Account Setup Fee
$0
Gateway Setup Fee
Undisclosed
Annual Fee
Undisclosed
Monthly Minimum
Undisclosed
Statement Fee
Undisclosed
The company indicates it offers a multi-year agreement with a cancellation fee. Merchants have the option of a 48-month non-cancellable equipment lease.
Contract Length
1 Year3 Years
Early Termination Fee
$400+
Security Credit Services still has an account with the BBB that originated in November of 2008. It currently holds an A+ rating with the BBB and has 85 customer complaints and 7 customer reviews.
There are multiple complaints online regarding reporting credit inaccuracies, customers being brought to court for accounts not paid, fraudulent account claims, and more. There are many negative reviews online regarding Security Credit Services having a customer account and the customer not being aware. This account was transferred from another merchant to SCS, and the customer was unaware the account had been transferred leading to accounts in default reporting on their credit report.
One lawsuit was filed with Security Credit Services (at the time) and its affiliate Security Card Services, two of three divisions that sit under Security Holdings LLC. In 2014, Security Credit Services was forced to pay $761,000 to consumers. This payment was to compensate them for fees that the FTC found to be deceptive.
BBB
A+ (85 complaints)
1.4 Stars / 55 Reviews
N/A
Yelp
N/A
Total Online Reviews
70+
Total Online Complaints
85+
Lawsuits
1
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