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We still have the same Merchant Account we had pre-BK, and we are still using it.
However, I did try to change to get a better deal and was turned down because of the BK.
Just keep using the one you have & pray you don't get too many chargebacks! That would make them check your credit again.
However, if all else fails, Card Service International WILL approve you for a Merchant Account, you'll pay a little more, but you will continue to be able to accept MC/Visa and perhaps Discover.
AMEX did pull our Merchant Account when we filed, however, we BK'ed $30,000 on them, so we were expecting it.
I should also add that when we filed, our attorney told us to stop accepting AMEX immediately, as they could "possibly" start to withhold payments to us because of the balance the we owed them.
So, if you are going to BK Discover or AMEX, you should stop accepting those cards now.
Visa/MC don't work the same way because they are issued by individual banks.
I think it has to do with the cross collateralization that SinkingFast mentioned in the thread about the bank accounts.
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