I received a call from Premier Savings offering me a new credit card with a 7-9% FIXED interest rate to which I could transfer all my other credit card debt. The savings calculated by the rep was $2500 per year and I was pre-approved—no further credit check required. Sounded great.
I asked many questions about the company, its services, and how the program works. I was then told about the $279 processing fee. I was assuming this was to cover the cost of Premier Savings of finding an appropriate lender to provide the credit limit I needed at the interest rate promised. I could live with that.
I was told I would receive a package in the mail that would document the program and include a money-back guarantee. That made me feel good. So often, companies refuse to send ANYTHING in writing.
I was ready with the pen and paper requested to take down the rep's name and telephone number and provide my credit card numbers when I decided to look up "Premier Savings" on the web. I asked the rep to hold for a minute. I AM SO GLAD I DID!
All I found was story after story about this fraud. As I started reading through the statements, I saw that I was very close to becoming another victim. I said to the rep that I was looking up the company on the web and all I was seeing was bad reports. She said, "I've heard about those and I've been with the company for a long time—I'm still here." I said, "Thanks for your patience—just one more minute" while I read through some of the reports. The rep then said, "Well, I've spent 20 minutes on the phone with you now and it doesn't look like it's going anywhere." She had been so nice until I said I was checking up on the company she represents! I got her name and number anyway and thanked her for her time. Everybody's got to make a living, I guess.
A very big thank you to everyone who has shared their stories on this hoax! You've saved me money and heartache!
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