I signed up for a $5 credit report before I applied for a refinance. They asked if I wanted to sign up for the free credit monitoring service and I declined.
Exactly one month later, I was billed $79.95 for their credit monitoring service. I disputed the charge the next day with my card company and sent in written declaration that the charge was not authorized. They reversed the charges the next day but two weeks later the charge was reinstated.
I called the bank again today (4/3/03) and they said that CIC clamed the charge was valid and they put me on the phone with CIC and told them to take my cancellation. CIC asked me for my name, address, mother's maiden name, and social security number (information I never gave to them previously) in order to verify that I was who I said I was in order to cancel.
I got angry with them but they told me that if I did not give them that information, they would continue billing my credit card. I gave them the information and they said they would cancel the service and refund my money in 5-7 days. I then called the bank back and asked them to block any future charges from this company. They stated that they could not block charges from a particular merchant and that the only way to deter them would be to cancel the card and get a new one.
They also stated that since this company has access to all my credit info, that they could just switch the charges over to a different account if they really wanted to. Also, they NEVER sent me anything regarding this service; no letters, email, telephone calls - nothing to indicate that I had signed up for this service or that it was active.
If this was really a valid monitoring service, I should have been informed that MAJOR changes in my credit report were being made because of loan payoffs and new loans. I never received ANYTHING from this company except the charge. Even if you wanted this service, it obviously does not inform you of any changes in your credit report therefore it is a complete scam and fraud.
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