My story is much the same as the others I saw regarding this same company. I only wished I had been at home in front of the computer instead of in a car on a noisy freeway when they called me so I could have caught some of the deception immediately.
Just like the others, they contacted me perpetrating as if they were calling from my credit card holder (US Bank Visa), saying I had made timely payments for such a period of time that I was now eligible for a rate reduction. After 20 minutes of financial jargin and promises exactly the same as everyone else mentioned (5% fixed rate, minimum of $2500 savings but likely near $5000-$6000) oh by the way just say you accept with a $995 charge... WAIT what!? Oh but the charge is going to be absorbed by the savings so it won't even be applied to your account, you won't even notice. Okay so which is it? I won't be charged, or I won't notice? Okay thanks you'll be contacted by a financial advisor next week, bye now.
Just like that I was suckered into giving them my money.in the interim between they're "financial advisor" contacting me I called US Bank asked if I was eligible for a rate reduction went round and round and was told not for at least another 6 months. So when CFS' advisor calls me I ask, what exactly can you do? She simply said oh we know a lot more about financial practices then you do. I said well actually I received a BS in Business Admin/Poli Sci from the University of Oregon and I'm quite familiar with financial policies. She said to make me feel better about he situation I'd be on the phone when she called my card holder. So I thought okay well at least I'll get to hear her negotiating.
Let me give you the whole conversation it went like this:
"Hi this is CFS representing (*ME), we want to reduce his interest rate"
US Bank: "No, he is not eligible yet"
"Are you sure"
"Yes"
"Okay, thanks have a nice day"
So that was it, then she tries selling me on opening other credit accounts transferring balances, etc. I said no I want to keep it simple with one account and that is it.
Months and months of them not calling me EVER, saying they did, but they did not. Being absolutely HORRIBLE, RUDE and downright UNPROFESSIONAL when I simply asked what the heck? Then they threatened me saying I was in breach of our contract because I wanted a refund, etc, etc. More months of angry calls back and forth and no resolve. Then 40 days ago I was greeted by Ricky, just like everyone else said in their reports. He guaranteed a refund that it would take about 30 days. Well I just called and after 20 minutes on hold (Oh get used to that if you're dealing with this company) they said my refund will be processed in the next 24 hours.
I am very skeptical especially since it's Friday, so I think I will call my card holder and get something rolling with them if at all possible to ensure this doesn't get unresolved. This was a downright scam, and has made my life horrible for 5 months. They nearly maxed out my card with their charge and when I had a family emergency and needed my card for a plane ticket I was almost not able to purchase one because of my card balance. Also, they made my monthly finance charges increase by $70/mo with their charge. So that's $70 less a month going to paying off my principle balance.
I'm a disabled Iraq veteran and out of work in the recession trying to get married in the next year, find a job in a new, competitive, unemployed Los Angeles and have been met with nothing but carelessness and disregard from this corrupt company.
AVOID THEM AT ALL COSTS. And other similar companies, since this I've received 2 other calls from companies making similar promises.
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