The sales representative for this company informed me that the monthly fees were $5.00 with a 1.6% transaction fee. I had a current contract with Costco for $28.00 per month and a 1.99% transaction fee. Because this was such a lower price and because the representative assured me that they would cancel my Costco contract, I happily agreed to contract with Wholesale Merchant Warehouse.
I was very surprised to receive a multiple page contract several days later that included multiple additional fees that were not discussed in the sales meeting. After I realized that automatic deductions were taken out of my checking account that totaled more than $180 per month, I contacted the company to inquire and cancel my contract. None of these fees were included in the initial meeting. I was unsuccessful in reaching anyone who could or would cancel my contract even after I explained that none of these fees were discussed or agreed upon.
In addition, I offered to pay a cancellation fee, but I was told that I was not allowed to cancel this 4 year contract.
Had I not changed my contract with Costco, I would be paying $1344. I never would have agreed to go with Wholesale Merchant had they told me that my fees would be $8640. Futhermore, Wholesale never canceled my Costco account as promised.
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