I have owned a retail business for 21 years with a few changes in credit card processors.in Nov an agent for Crescent showed up, without appt., and started the hard sell. To get my business he promised a 1.59% rate "across the board" on ALL credit cards. I explained that for mid-qual cards that was impossible. As the 'value' of a card goes up, ie travel miles, airmiles, the rate of the card goes up. The rep frequently had to call his boss (in Tx from Boston!!!) with questions, but he had me authorize over the phone an agreeement wherein all these terms were promised.
And so I became a customer. As another report here indicates, the equipment was the cheapest quality obtainable and the rates were 3.1%... Everything he told me was not true. Since he gave me a 30 day unconditional guarantee, I returned the equipment and wrote a letter of cancellation. Sure enough, my bank acct was debited $495 for early cancellation. When I called customer service on 3 occasions I was told that they would send me a transcript of the phone conversation wherein I agreed to the terms.
Of course, in this phone verification I said "Iagree to the terms that all charges will be at 5.9%! I'm sure that that is surely the reason why this transcript has never been sent. Three subsequent calls went unheeded, and my only recourse now to contact my state atty general. Do NOT have anything to do with this co. BTW, every other credit card processor I've talked to since has been well aware of Crescent's practices and has acquired many of their former customers.
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