Just wanted to thank you for this site. A representative called me yesterday. I have to say their pitch is very good. It sounded like a good opportunity.
I have spent the last 5 years rebuilding my bad credit and now I have lots of high interest credit. About $9000.00 worth so the pitch for one low interest card for the entire $9000 at a much lower interest rate and payment sounded great.
The salesman, Sam Ramos, made it sound as if they would actually get the approval for me. I questioned what they could do for me that I couldn't do for myself. His response was that these credit cards are not advertised to the general public and that only their company could get any of these cards for me. These cards are supposed to be 'the best' cards, according to this representative of Premier Savings.
I asked why a company would not let the public know about a card that would make them money. He told me because the default rate is much lower for these companies when they go through Premier, so they work with Premier because the risk is lower.
I asked for him to send me information about the plan or to explain it to me. He went on to tell me that they used to send it out in advance, before taking money, and people would contact the companies on their own, instead of going through Premier and they lost money so now they ask for the fee up front.
He also told me they were a member of BBB, which I see here (I've also read it before) that members are given special priveleges, such as no negative reports... Nice
I asked him to send me something explaining the program without divulging any secrets, such as leaving off the name of the companies Premier would contact, so I could see just what I would get for my $279.00. He did not outright refuse, but went on to tell me that the program was just that they would get me a card with a credit limit high enough and an interest rate low enough to pay off all my bills. Worst case would be that I couldn't get the entire amount on one card and they would have to get me two cards.in any case, if I was turned down by 3 companies, I would get my money back.
I ended the call by telling him I needed to do research on thier company. I told him the BBB would be part of my research, but I would also check the internet for message boards, etc. That talk about the company.
Your site is the first that came up!!!
I have to say that I am not sure that the salesmen know they are ripping people off. Even after I told him I would check the internet for bad stuff, he gave me the company phone number, his name and the company name and location again. Hedged on the website URL, saying it had been attacked, but I insisted and he gave it to me.
By the way, I unchecked the box for willing to talk to consumer groups because I was not ripped off, but would be willing to tell my experience to any agency involved in stopping this probably illegal business.
Thanks again for this site!
Renee
Warren, Michigan
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