Innovative Wealth Builders said they could lower the interest rate on my credit cards and save me thousands of dollars in interest. They keep calling me again and again saying they would help with lowering my interest rates and come up with a Financial Plan to help me in the future. They would start with a credit card that was not behind in payments or close to the limit. Something that would show my credit worthiness. All they needed was the credit card number, the last 4 digits of my social security number and the CVC code on my card to get through to the customer service department to negotiate the lowered interest rate. Once they found out if they could lower the rate a decision would be made on how the payment of $695 for their services would be made. I should have known better than to give them all that information. I was informed my interest rate was lowered and I would be saving $3000 on this credit card alone and it was charged for the $695. I said I did not want the charge against my credit card. I was sent to a person to record that I was accepting the charge to my account. I keep saying no because I did not understand how they could lower my interest rate and save me the money. I spoke to 3 different people and they all kept telling me I was going to make $2300 at least in savings. I would save even more when they sent me the information packet to fill out about my other credit cards. They say they negotiated the lowering of the interest rate on the credit card in good faith and would show me a minimum savings of $3000 in interest. I said I didn't want the charge against my account. It didn't matter what I said. I was told since I gave them the credit card information and they negotiated the lowering of the rate it was too late to change my mind. Don't know if I was recorded while talking to all those people or not. Of course when I called the credit card company I was told my interest rate was not lowered and that no one's interest rate was being lowered at this time. I have tried calling the company but no one will return my calls. I have closed the credit card, filed a dispute with the credit card company with little hope of getting back the money. I also filed a claim with the BBB in Florida and the Attorney General. The information packet they sent me is vague saying I authorized the $695 to a credit card and/or checking account. They also want another $799 dollars to lower my other credit cards or any personal loans. I was stupid for giving them my information. I did not get the interest rate lowered and was ripped off for $695. A hard lesson to learn so others beware of Innovative Wealth Builders. They will rip you off and leave you with little information to prove which credit card was authorized to be charged.
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