Key One "baits" you by phone with an offer to lower the interest rates on your credit cards. They say, "we have lowered our clients rates to as low as 6.99%! We will not guarantee rates as low as this in all cases, but we will guarantee that your card rates will lower enough to realize a minimum of $2500.00 in savings. "After a slick and convincing presentation as to how this works and their "SAVINGS GUARANTEE", you are pressured to give a credit card to charge their fee of 998.00 (ironic, right?) in order to get your "savings analysis" under way! After all, you are GUARANTEED to receive these savings, or your money will be refunded! So they say. Once you give them all your credit card balances and information, you are contacted by your "personal financial adviser." On that call they put you on hold to supposedly contact your credit card companies. When your adviser comes back to the line, the only news you get is that the rates you have are already as low as they can go!"However, we will send you a 'plan of action' instead!" The SWITCH... CREDIT COUNSELING! My suggested plan of action was to "transfer your balances to new credit cards, and make larger than minimum payments!" Been there, done that! They really consider this advice worth $998 and transfer fees on top of that??? How insulting to try and charge someone for advise that is so obvious! I told them I don't need counseling and to just give me my money back. Of course the answer was no. They claim to never have guaranteed lower rates and that they only offer a "financial analysis" that will show how to save a minimum of 2500.00 by changing how we structure our payments. What a joke! I can get all kinds of advice like that for FREE! Avoid KEY ONE SOLUTIONS at all costs.
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