I received my card within 10 days of applying. The credit limit was reduced by fees of approximately $250.00 (which I knew about when I apllied for the card).initially the credit limit given was $56.00. All of this was disclosed in the agreement that was sent with the card. My concerns started after I started to pay the fees off to open up the $300.00 credit limit.
1. It takes 7 days for a payment to post when you use a check.
They could recieve the payment within two days (even cash the check) but it will not post to the account for 7 business days. This information is not on the website, and is not clearly written on the agreement. They do have an option of paying by debit card but that is through Western Union and there is a $8.95 fee for doing so. Payments done this way will post in 24 hours.
2. When an authorization is done it will hold the account for 10 business days.
Other credit card companies release an authorization within 24 to 48 hours, but not Continental Finance. If you want an authorization to be released you need to physically call the merchant, and they need to call customer service. Once this happens it takes 24 hours for the hold to be released on available credit.
On two recent transactions I had to call customer service constantly to make sure that the authorizations were released. The merchants had called customer service before (2 times each!) to release these transactions and had been assured that it would be done immediately, but when I called to follow up the information was not found or recorded in the credit card company's system. Hmmm
3. Speaking to customer service is a long drawn out process, which makes getting any type of dental work sound fun.
If you call the customer service line on the back of the card you will get automated account information ONLY. You have to press one of the options in order to actually get a phone number for a live person but the number is not 24 hours. You will not be connected from this number, you have to physically call.
Once you do you get connected to some call center in Asia, where they will tell you the same information (credit card balance, payment information) over and over even though that may not be the reason you are calling. If you do ask something out of their ordinary you will either be talked over or argued with. I literally had to scream at one of the representatives 2 times before I got a manager on the line.
In the month that I've had this card I have had more trouble than I did with my old * (REDACTED FOR SESCURITY PURPOSES) accounts (and thats not saying much).
This company did provide me with a way of reestablishing my credit after a bankruptcy which I am grateful. But the laborous processes, slow turnaround time, and continual ineffectual customer service makes me want to dispose of this card as quickly as possible once my credit rating improves.
I don't believe that this is a scam; but this has got to be one of the more backward companies I have ever dealt with.
Erik
Phoenix, Arizona
U.S.A.
Sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome!
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