I was phoned by a man (Chad Martin) giving me this pitch... About he has a 9% "Fixed" card available for me with no introductory rate, nor annual fee... Asking me would I like to transfer my balances from my other cards... I just listen... He goes on to ask for my balances & if my int. Rates were higher than 9%... I say yes... Well, he says that I'm approved for at least $7000... He promised me a life time no annual fee, with a small fee of $279... I was about to hang up then, he says I know that that seems high... But you'll save it from your first credit card transfer... They'll mail me a package to fill all my information in and all the accounts, I'd like to transfer... So on & so on... I fall for the pitch, and give him my checking info... Yet I had an eary feeling about it all the while...
Next minute I hang up & there's another guy the verifier (Carlos) giving me a WHOLE NEW read from his script... Verifying my checking info, telling me that they don't issue the card and are not affiliated with the banks who issue the card... From there I'm seeing a red flag... So, I question him... I asked what about the amount Chad told me I was approved for... How would he know that... What about the int. Rate? I ask about the interest rate being fixed... He said, Miss the rate would vary from 6% to 9%, but no hire than 9%... He cut me off and said Miss, we wouldn't have called you if we didn't think that you'd be approved? So, I said what if I'm NOT approved... He said, if you're denied by 3 banks on the list I receive that they'll refund my money... So, I say okay as long as it's a money back guarantee...
Next week I received the package... Low and BEHOLD, it's nothing but a debt consolidation pamphlet and a list of banks... Also a letter stating that I would have to call and solicite credit from these financial institutions by myself... Call them if I have any questions...
I'm no rocket scientist, but I know darn well that THIS IS SOMETHING ANYONE CAN DO THEMSELVES!!! I also know that each time you apply for a card that these institutes pull your credit report & I have good credit (above 700 score), that you lose 3-4 points... This list had at least 9 - 10 institutes to apply to... So we're talking about 30-10 points lost people... Which would drop me down to an average score, if I were to go that route... Not to mention the programs offered on the list by the banks... Were NOT all offered at FIXED interest rates... Hmmmm... You only had two institutions that offed fixed and one had an annual fee... Hmmm... Then they had a form stating that there is a money back guarantee MINUS a SIXTY percent shipping and handling/processing fee...
The next day I called the 1 800 number, which I don't have with me right now, but I will soon as I get the package from home... Spoke with the receptionist (Yvonne) who would NOT give out her last name & didn't have a Supervisor there to talk to for my REFUND... Which is exactly what I asked for... So, I told her that I'd hold until I can speak to one... She said she can't tie up the line like that, give her a number for me to call... I said no, I'll call back... Well as I said this a supervisor walked up supposedly (Amy) & she said that she couldn't give me a refund due to the verifier (Carlos) who should've explained everything to me... I told he didn't say that there is ONLY 2 fixed rate institutes on the list NOR did he say that my money back refund excluded SIXTY percent for shipping/handling... She said he didn't? Well, we have recorded the call and I said well please play it RIGHT NOW... Because this is against the my Consumer Rights, this is called BAIT and SWITCH... She said I assure you that's not what it is Miss, I'll review it and give you a call after listening & speaking with Carlos... I hadn't heard anything from them since...??? I'm going to call back today & let them know that, if they do NOT receive my refund by tomorrow, I WILL FILE a report with BBB, FBI, and the FCC... Not to mention I'm still going to my bank to REVERSE this ACH from a week ago...
Hope this helps everyone out there not to be a VICTIM... Like me...
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