10/26/05- Contacted by female rep. Promoting Capital Financial Credit Card. Was asked whether I preferred MasterCard or Visa. Was given credit card terms conditions and told a 200.00 fee would be deducted from my checking account. A card would arrive along with (4) vouchers for 50.00/each good toward payment of credit card balence. Funds were supposed to be deducted on 11/1/05. Order number was #.
Approx 10 min later, I called back merchant and spoke with male rep and asked to cancel the transaction, I had changed mind. He said "Okay, fine" and issued me a cancellation confirmation number #-# and I was told funds would NOT be deducted.
11/1/05 Funds were NOT deducted as promised. However, funds were not available in account anyway for several weeks.
11/15/05 As soon as I deposited 510.00 to cover a check written out for a rental housing payment, Capital Financial deducted 200.00 from my checking acct (Leads me to believe they were monitoring acct for funds).
11/16/05 Tried to contact merchant until close of business hours, no one answered phones.
Called my financial inst. To report an unauthorized debit and told them I would continue to try and contact the merchant.
Did search online for other contact methods and came across numerous consumer reports at usacomplaints.com regarding company's negative business practices and scams.
Learned it is not a major credit card but a merchant card only good towards poorly made products from company's website www.capitalfinancialcard.com. Coincidentally, many items are priced around 200.00.
11/17/05 Tried contacting company numerous times (22) throughout day during business hours, no answer nor voicemail.
Requested Federal Regulation E Dispute Affidavit from my bank. Contacted FL State Dpt of Agriculture & Consumer Services, Tennessee State Atty General's Office. Will file a fellow complaint at usacomplaints.com. Hoping BBB can help resolve this issue.
Desired Settlement: Other (Requires Explaination)
Desired Settlement Explanation:
Refund of 200.00 32.00 to cover insufficient funds fee issued by my bank (or)
Refund of 200.00 with letter of apology and explanation of mistake in deducting this amount from my checking account as proof to show my bank in hopes they'll voluntarily refund the insufficient fee charge accrued as a result of this unauthorized transaction.
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Although other consumers have complained to the BBB about these people, unfortunately, it hasnt been enough. Everyone who has been scammed is encouraged to do as I did. It was simple. I just went to the agency/state website and submitted an online form.
Www.clearwaterbbb.org (Better Business Bureau for the company's jurisdiction)
Www.800helpfla.com (FL Dpt of Agriculture & Consumer Svcs)
Www.myfloridalegal.com (FL Attorney General)
Contact your State's Attorney General as well if not Florida.
Company info for complaints: Capital Financial Card aka Capital Financial, Inc.
President: Savas Arvanitakis
General Manager: John Buschel (i got this info from the BBB)
I was told by my bank as long as I filled out the Federal Regulation E Dispute Affidavit and had it notorized and handed it in to the branch within 60 days of the posted transaction, they WOULD reimburse my money.
I did all of this in literally ONE day!!! YOu can too! If enough of us take these measures, we'll do our part in changing business practices and or running them out of town! These companies mainly prey on people with no-little credit or bad credit. Like my great grandma always said "If it sounds too good to be true, IT PROBABLY IS!!!"
I will update this as soon as I hear back from any and all agencies! Get to filing!!!
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