Credit Shop, Incorporated

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution is satisfactory to me.
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
I filed a complaint regarding a transaction I had pending with a company by the name of Credit Shop (ID# [redacted]),. The company...

contacted me today and resolved my issue. Sorry to have bothered you! Thank you!
Regards,
[redacted]

Complaint: [redacted]
CreditShop is performing an investigation into the matter and will follow-up with me no later than October 31, 2016.  The complaint remains unresolved at this point.
Regards,
[redacted]

Dear [redacted],We received your Better Business Review complaint and review and wanted to respond.   We have reviewed your account and attempted to reach you by phone but have been unsuccessful.  We did send you the updated reservation number and it based on our records, you have...

accepted the new loan offer and terms and been funded.   If the resolution was satisfactory to you, we would appreciate it if you could close out the complaint on the Revdex.com website.   If there is anything we do to assist you further please let us know.  We appreciate your business and hope you are happy with the resolution!    Sincerely,[redacted]

Dear Mr. [redacted],We received your complaint from the Revdex.com and wanted to respond.    We understand your concern related to the Credit Bureau reporting of your account and we are currently researching your dispute.  As soon as we have completed our...

investigation, we will follow up with you directly, no later than October 31st, 2016.If the meantime, if you have any additional questions please don't hesitate to contact us.Sincerely,CreditShop Customer Service

Dear Mr. [redacted],We received your complaint and wanted to take the opportunity to respond.    Thank you for speaking with us on Friday, August 12th.   After review of your account, we applied two credits back to your bank account based on the review.  I hope this resolves your...

complaint.  If you have additional questions, please contact our Customer Service department.Mr. [redacted], we appreciate your business and thank you for being a CreditShop customer! Sincerely,[redacted]

MR. [redacted] - We recently received a complaint you filed from the Revdex.com and we would like to discuss the matter in more detail to fully understand your concern so that we can satisfy your needs and improve our processes.  In looking at your particular...

situation, it appears the wrong bank routing information was on the original application which delayed you receiving the funds.  Unfortunately, we had to wait for confirmation from the bank that they did not get disbursed before re-submitting with the corrected information.  This can take anywhere from 5 to 7 business days, and I apologize if this was not clear during your interactions with our customer service representatives. Thank you for being a CreditShop Customer!

Dear Ms. [redacted],I wanted to let you know that at CreditShop we take the privacy of your personal information very seriously.  There is a link at the bottom of our website ([redacted]) to our Privacy policy which provides information on this topic.I also wanted you to know that your...

loan has approved by CreditShop and a representative has been trying to contact you at the phone number(s) you provided us with the details on how you can accept the loan if you are still interested.  Please contact us at your earliest convenience so we can assist you in answering any additional questions you may have regarding the privacy of the information you provided or with finalizing your loan.  Our representatives are available Monday through Friday from 8am - 5pm ET at [redacted].Best Wishes for a Wonderful Holiday Season!Sincerely,[redacted]CreditShop Compliance Department

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]

PleaPleaCUSTOMER EXPERIENCE INFORMATIONCustomer Information:Bennie W Miller 1806 Montopolis dr Austin , TX 78741Daytime Phone: 512-350-3145Evening Phone: 512-586-6790E-mail: [email protected] details of this matter are as follows:Complaint Involves:Contract...

Disputes Customer’s Statement of the Problem:I applied for a loan with credit shop they approved the loan said it would be funded and never funded the loan I have all Emails from credit shop to verify the approval and promise of funding of my loan but they never funded the loanComplaint Background:Product/Service: Credit Shop.incPurchase Date: 7/9/2015Problem Occurred: 7/14/2015Model: Account Number: Order Number: Talked to Company: 7/14/2015Talked to Company (2nd): 7/15/2015Name of Salesperson:  Purchase Price: $0.00Disputed Amount: $1070.00 Desired Settlement:                      For credit shop to fund the loan as they Agreed tooCUSTOMER EXPERIENCE INFORMATIONCustomer Information:Bennie W Miller 1806 Montopolis dr Austin , TX 78741Daytime Phone: 512-350-3145Evening Phone: 512-586-6790E-mail: [email protected] details of this matter are as follows:Complaint Involves:Contract Disputes Customer’s Statement of the Problem:I applied for a loan with credit shop they approved the loan said it would be funded and never funded the loan I have all Emails from credit shop to verify the approval and promise of funding of my loan but they never funded the loanComplaint Background:Product/Service: Credit Shop.incPurchase Date: 7/9/2015Problem Occurred: 7/14/2015Model: Account Number: Order Number: Talked to Company: 7/14/2015Talked to Company (2nd): 7/15/2015Name of Salesperson:  Purchase Price: $0.00Disputed Amount: $1070.00 Desired Settlement:                      For credit shop to fund the loan as they Agreed too

Dear Ms. [redacted],We received your complaint and reached out to you via phone to address your concerns.  Thank you for speaking with us by phone! We hope we were able to resolve any concerns you had regarding this loan and the interest accrued.  Thank you for your business and we look...

forward to serving your future loan needs. Sincerely,[redacted]

Hello Mr. [redacted].  After review of the questions and concerns you’ve raised regarding your account, below are my responses in the hope and expectation they satisfy your email communications sent to us and the Revdex.com complaint you filed.  Some general information I’d like...

to state first regarding our Line of Credit (LOC) product: CreditShop LOC·         Is a financial product permitting you to take advances from time to time, subject to your available credit, and provided your account is in good standing.  It does not have a term (end date) because it is a Line of Credit and therefore if funds are available from your LOC then you can take Advances as often as you want·         Similar to a credit card (Cash Advance), the minimum monthly payment will vary based on the amount of advances, the date of the advance, and any fees accrued.  The minimum amount due is calculated at the end of the Billing Cycle and will vary each billing cycle based on account activity.  It equals the sum of any past due amount + the fees imposed that billing cycle + the interest accrued that billing cycle; plus, the greater ofØ  3% of your total balance owed; orØ  $30 because your credit line is between $2001 and $2500·         We charge interest on advances on the post date, which is only after the advance has been transferred to your bank. There is no grace period on advances. The daily periodic rate of interest is 0.08219%, this corresponds to an Annual Percentage Rate of 30%. We add the interest to the Account balance, but we do not charge interest on fees or accrued interest (no compounding). Your Current Account Situation ·         You did not take any Advance against your Credit Line ($2500) however you had a one–time set-up fee of $100.  You will receive a statement approximately 14 days prior to your payment due date on July 22, 2016 showing $100 due.  The $100 fee is due in full upon the first due date.  Please keep in mind, an unpaid fee balance reduces the amount of available funds from your Credit Line. Your EXAMPLE (taking a $2500 Advance) ·         If you took an Advance of $2500 from your LOCat the beginning of a billing cycle, your monthly minimum payment due would be approximately $137. Principal$2,500.00Daily Interest0.08219%Interest Accrued for 30 days$61.64Minimum Principal Amount$75.00Total Interest + Principal$136.64 ·         Interest is calculated daily (0.08219%) and only against the amount of money you would take as an Advance.  This daily interest (0.08219%) calculation corresponds to a 29.9% interest rate.  Interest is not applied to fees. After you and our other customers alerted us to the issues in contacting us at the Call Center and our corporate office in Austin, Texas, we found there was a problem with the phone line treatment.  Thank you for bringing this to our attention. We really want to keep you as a customer.  If you would like to keep your loan, I will personally waive your $100 setup fee.  I attached your CreditShop Open-End Line of Credit Agreement for your review.  Please contact me directly if you have any further questions. I apologize for the issues you experienced.  If this communication has satisfied you request, I would appreciate your closing of the Revdex.com complaint as being satisfied. Regards

To whom it may concern,First Bank & Trust of Brookings, SD ('the Bank'), is in receipt of correspondence submitted to the Revdex.com on October 20, 2017, related [redacted]'s complaint in regards to his NEA Personal Loan' account ending in 5191. Although Mr. [redacted] complaint is...

regarding his NEA Personal Loan', we have regarded the complaint as one against the Bank given that CreditShop is the marketer and service provider of the account, not the issuer.A review of Mr. [redacted]' account indicates that he responded and accepted our offer for a NEA Personal Loan' on October 17, 2017. As a result, an ACH in the amount of $1000.00 should have been credited to Mr. [redacted] PNC checking account on October 18, 2017. When this did not occur, he made calls to our Customer Service department to check on the status of the funding of his loan.After a comprehensive review, we determined on October 20, 2017, there was an error with the ACH file, resulting in a delay in the funding of the loan. This delay was not caused by Mr. [redacted] Bank or him. Once the issue was identified, the file was re-transmitted on October 19, 2017 and the loan was funded on October 23, 2017.Regarding Mr. [redacted] phone contact with our Customer Service department, our records indicate we reached out to Mr. [redacted] twice on on October 20, 2017. In the first conversation we had with him, we acknowledged his escalation and advised that we were researching his inquiry. During the second conversation with Mr. [redacted] on October 20, we shared with him that the issue was identified, corrected, and his loan would be funded no later than Monday, October 23, 2017. During our second phone conversation on October 20, we also addressed the poor experience Mr. [redacted] had when calling us at 10:00am ET that day. During the time he called at 10:00am ET on October 20, our Customer Service Center was experiencing a power outage, and that is why the automated phone message indicated we were closed. We apologize for any inconvenience this has caused. The Bank considers Mr. [redacted] complaint resolved and offers our most sincere apologies for any inconvenience he may have experienced. Should he have any additional questions, please contact me.Sincerely, [redacted]General Counsel/Director of Corporate Risk ManagementCC: [redacted]The NEA Personal Loan' is provided by First Bank & Trust, Member FDIC, and serviced by Credit Shop Inc.The NEA Personal Loan' and the NEA Member Benefits logo are trademarks of NEA's MemberBenefits Corporation, and are used by Credit Shop pursuant to license

Dear [redacted], We received a complaint that was submitted to the RevDex.com of Central Texas regarding account ending [redacted], and wanted to take this opportunity to respond to your concerns. In reviewing your account, our records indicate you were approved for and accepted an installment loan of $2500.00 on May 10, 2016. Based on the loan agreement, the fixed monthly payment required is $114.35 and the payment due date is the 9th of each month. We verified your interest rate is 35.9% and your loan term is 36 months. If you continue to make your required monthly payment by your due date, your loan will be paid in full as of May 9, 2019. Your Credit Shop installment loan is a daily simple interest installment loan where interest accrues on a daily basis on the amount of the loan (current outstanding principal balance) from the date the interest charges begin until you repay the loan in full. The daily simple interest method counts the number of days between the date your last payment is received and the date your current payment is received. To calculate the monthly interest charges, you take the outstanding principal balance multiplied by the annual interest rate divided by 365 days, then multipled by the number of days since the last payment. Outstanding principal balance X Annual interest rate/365 X Number of days since last payment With your last payment on 5/5/2017 – the current outstanding balance was $1983.89. You take 35.9 (your interest and divide by 100 which equals .359. You divide .359 by 365 days which gives you the daily interest rate of .098356. You multiply the daily interest rate by the number of days in the biling cycle which in this case is (35.9% interest/365 days) x 28 days (which is the number of days between last payment received and the payment received on 5/5/2017). The interest for this period equals $54.64 (see highlighted row below). Please note that due to rounding, the exact amount may be plus/minus a few cents. Below is a summary of your payment history for your loan, which includes the amount applied to interest for each month from loan origination to date: Payment Payment Payment Amount Amount Number of Balance Due Date Received Date Amount Applied to Applied to Days in Received Interest Principal Billing Cycle 1 6/9/2016 6/6/2016 $114.35 $66.39 $47.96 25 $2452.04 2 7/9/2016 7/8/2016 $114.35 $77.18 $37.17 32 $2414.87 3 8/9/2016 8/4/2016 $114.35 $64.13 $50.22 27 $2364.65 4 9/9/2016 9/9/2016 $114.35 $83.73 $30.62 36 $2334.02 5 10/9/2016 10/4/2016 $114.35 $57.39 $56.96 25 $2277.06 6 11/9/2016 11/4/2016 $114.35 $69.43 $44.92 31 $2232.14 7 12/9/2016 12/9/2016 $114.35 $76.84 $37.51 35 $2194.63 8 1/9/2017 1/6/2017 $114.35 $60.44 $53.91 28 $2140.72 9 2/9/2017 2/3/2017 $114.35 $58.95 $55.40 28 $2085.33 10 3/9/2017 3/3/2017 $114.35 $57.43 $56.92 28 $2028.41 11 4/9/2017 4/7/2017 $114.35 $69.83 $44.52 35 $1983.89 12 5/9/2017 5/5/2017 $114.35 $54.64 59.71 28 $1924.17 I have attached a copy of your loan agreement for your review. We pride ourselves in customer service and feel we could have done more to explain this to you when you interacted with our customer service team. Ms. [redacted], I hope this response resolves your concerns. Should you have any additional concerns, please feel free to contact me directly at [redacted]. Thank you for being a valued CreditShop customer. Sincerely, [redacted] CreditShop Customer Service [redacted]