Complaint / Review
Preferred Merchants
Card ripoff fraud liar cheat business Saint Petersburg

Preferred Merchants CardPreferred Merchants Card (National Association Of Credit Services) ripoff ripoff fraud business, liars, cheaters St. Petersburg Florida...

This company called me and said that they were a credit card company offering me a credit limit of $2500.00 all i needed was to pay the deposit of $200.00 ans since i cant get credit cards i knew that it was going to be required, but that was the best offer i was given so i took it, however they failed to tell me that it was not really a credit card and that I can only use the card to buy things out of a useless catalog.

Then they told me that they would send me the paperwork so that I can recieve my "creit card" and all i had to do was sign the signture card and that my "credit card" would be on it's way. Three weeks later I recieve a package, thining it was weird to recieve such a large envelope for a "credit card". I open the package and i found two catalogs with a letter and an order form.

I called the company back and then that is when they told me that they were not a "credit card" but a card company that allows you to order items in the catalog. To make things worse you have to pay a down payment of 35% plus 7% tax and shipping and you have to put in an order of the minimum down payment of $50 so of course the item you want has to be at least $100.00.

I told them i want my money back and they told me to bad that i am now stuck with the things and that I am required to purchase their items for the next year otherwise if I cancel i have to pay an additional $65.00 which is on top of the $200.00 that they deducted from my bank account, which now is closed so that they can not take more money from me. Another fee is that in order to stay a member you have a yearly membership fee of $120.00.

I now am in the hole the $200.00 that they took from me, I want to get arid of them but that will end up another $65.00 out of my pocket. I want my $200.00 back but i dont know what to do. I feel lost I sure could use some help or at least some good advice of who I should talk to.