Credit Strong Reviews (%countItem)
Credit Strong Rating
Address: 8100 Shoal Creek Blvd Ste 200, Austin, Texas, United States, 78757
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Address: 8100 Shoal Creek Blvd Ste 200, Austin, Texas, United States, 78757
E-mails: |
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Add contact information for Credit Strong
This company is a scam. Took more than half of my money when I closed the account and then justified it by saying only a portion of the money was going to the principle. I’ve used self lender a few times. When I closed an account with them they gave me back all my money. Use self lender, it’s a more legitimate service.
I created a Credit Strong account with a balance of $1,000.00. This is a credit building loan, that you pay off. Well I completely paid it off, and now it has turned into a savings account that is locked. It has been over 10 days since fully paying it off. Their phone number for customer service is not taking any calls due to covid, their live chat has no representatives. I am starting to have a melt down that my $1000.00 is tied up in a business that has failed due to covid. I am trying everything in my power to get MY OWN MONEY back. If they simply had a few people at home answering emails or live chat, and they could tell me it will take another week, or whatever the case may be, it would seriously help build trust. Sadly this company has a really bad website interface, and even worse customer service. Another thing to keep in mind is when you have a credit building loan it counts as a loan. Something they dont tell you, is this stops you from qualifying for credit cards, because it looks like you have $1,000.00 in unpaid loans...even though it is your own money. Just something to keep in mind.
I have been with company since September 2019. My reason for opening this account was due to the fact this company advertised that you can build credit by putting loan payments into a savings account and can withdraw the full loan amount once the loan is paid. Due to covid 19 affecting my household finances I contacted several representatives through chat because you can never reach anyone over the phone. I asked specifically how long does it take to get the funds once the loan is paid. I was told 6 business days then I can call back(which you can’t) to have funds sent to my account. There website specifically states there is no prepayment penalty. Funds were paid and debited from my bank accounts and now they are saying there compliance department can take 1-90 day’s due to them thinking it’s an issue with me paying off early. Due to this virus people can’t afford funds to just sit around. I took my last to pay this off expecting it back ASAP. This is not at all what they advertise I’ve paid every payment on time and now they are stealing
my money.
To begin, Austin Capital Bank wants to apologize for any customer inconvenience or frustration caused by this situation. This account was in compliance review. The *** for Austin Capital Bank contacted the customer and researched the complaint as listed above. It was discovered the customer was not provided with all of the options for paying off an account early. In situations similar to this customer, we would recommend the customer close the account using the savings account and the remainder of the funds would be sent back to the customer. After discussing this situation with the customer, the account was closed and the account proceeds were sent to the customer. We appreciate the customer bringing this to our attention. Austin Capital Bank values customer feedback to help improve customer service and processes.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
These guys stole my money and I still understand how they justify it. I paid 30.00 a month for four months and it clearly states on thier website that I can cancel at any with no pentalty. I was affected by COVID-19 and my income was affected. I called to cancel and was told they understood my circumstances and that I would be receiving a refund. So out of the 120.00 I paid they offered me 27.00 back. Wow! I never expected to get a full refund but for them to keep around 80 percent of my money is not right.
I’ve been having problems making payments since opening this account. None the less I continued using the service in hopes that things will eventually go more smoothly. Fast forward to the end of June. I logged in to make my monthly payment for July 2 which I did only to see that after the payment was completed that I needed to make another payment due for July second. This caused me to interact with their chat option. After about an hour of not getting anywhere I was given the option to give them a call only to be unable to press the proper option and be forced to leave a message which I did. When I recieved a call back I was told that there was some type of issue and that it had been corrected, however I still needed to make another payment in the amount of $12.81 which I proceeded to do. The following day I believe it was I recorded another call from customer service because I has left more than one message waiting to be contacted again. This rep continued to tell me that my payment of $12.81 has been received and that my next payment isn’t due until August 2. For reasons unknown I recieve an email the following day stating my payment didn’t go through. I contacted their customer service number again only to run into the same problem, being forced to leave a message which again I did. This continued for 2 or 3 days by know it’s stating that my account is 30 days past due. After trying to wait to make my payment when I speak with customer support I go ahead and make the payment online again. When a rep finally contacts me days after my payment didn’t go through, I explain that the account is causing more of a headache than helping and I just want to close the account she say ok we closed it. Now today I recieve an alert that my credit score was affected this is really frustrating considering I did everything on my part to avoid this late payment. I’ve taken some screenshots and I have emails. I just started rebuilding my credit and they unfairly ruined it with this supposed 30day late payment
Credit Strong, a division of Austin Capital Bank was experiencing technical difficulties with payment processing and our phone system. We would like to apologize to the customer for their experience. A Credit Strong customer service representative called the customer on July 22, 2020 to discuss their concerns. After further discussion and research we determined there was an error on the customer's credit reporting . Credit Strong submitted the correction to the three major credit bureaus on July 22, 2020. The account has been updated to accurately report the customer's credit history. Again, we would like to apologize for the frustration and inconvenience the customer experienced due to these technical difficulties and we would like to thank the customer for their feedback. Credit Strong is committed to improving our customer's experience.
I have tried for several weeks to cancel service and when call *** no one picks up its prerecorded line that says all agents busy assisting customers to live number and name and some one will get back to you. Not true and this is only way to cancel service per website required notes.
Austin Capital Bank would like to apologize to the customer for any inconvenience experienced with our phone system. We do acknowledge an issue with our phone system when all of our agents are busy. We are working diligently on a resolution to this. All customers are able to cancel their account by calling or utilizing the chat option on www.creditstrong.com and chatting with a customer service representative. We are in the process of updating our website to reflect this. An Austin Capital Bank representative reached out to the customer and was able to assist the customer with their request of closing the account. A confirmation email was sent to the customer confirming account closure. Again we apologize for any inconvenience this caused and we would like to thank the customer for their feedback.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
I called Credit Stong, automated service to cancel my account and get the money returned that I paid into it. It told to press #3 to speak to someone but would then say, "since you didn't reply we're going to forward you to our voicemail, to leave a message for an agent to contact you." Left message and NO contact, so I went to the chat option which did not work.
has reached
out to the customer and closed the account as requested. We would like to thank the customer for
bringing this matter to our attention. We’ve identified technical issues with
the phone system and are working to address and solve those issues.
Payment was reported late 30 days when I submitted payment on the 1st of June. You reported it late lowered my score and severely hurt my chances at getting approved for a car loan
Bank is aware that we had an issue with
incorrect reporting. We are working
diligently to correct this. In response to
this customer, we have already updated his credit report to remove this
incorrect delinquency. We apologize for any inconvenience
this has caused and we appreciate your feedback.
April 2020 I called to cancel a payment because the company took 72 hours and more to remove the balance from my checking account (not normal). So I received an overdraft from the bank. I was advised to cancel the payment and my bank will give me a courtesy and remove the $30 overdraft fee. I called Credit Stong, automated service sounded jinky and unsure. It told to press #2 to speak to someone but would then say, "since you didn't reply we're going to forward you to our voicemail, to leave a message for an agent to contact you." Left message and NO contact, so I went to the chat option. There I proceeded to ask an agent, "- Agent #***" to cancel my $40 payment and ill repay it that upcoming Friday (4/10/20). He confirmed the payment was cancelled and, "I'll get an email confirmation". I got an email saying my ' ACCOUNT WAS CLOSED" I was 2 payments shy of a $500. payout. When I contact them to ask them why my account was closed. *** (***) claims, "agent did it by mistake". There's nothing that can be done but for me to OPEN A NEW LOAN or cash out $318 from the $500 loan I was anticipating for a specific reason. I asked for an escalation of the matter due to, it was their employer who made this "mistake". No response until today. 4/13/20. I was told agent spoke to "*** -***" and she said the options remain, right now their system is down, my account page is "blank" and there's no information they can give me. Do I want to open a new loan? THE ABSOLUTE NERVES...WHAT MAKES YOU THINK CAN EVER TRUST YOUR SHABBY COMPANY EVER AGAIN. How is it possible to have a "new agent" close accounts. I work as a customer rep and Respectable companies have compliance and regulations that require for you to get permission from tier 2 or a supervisor for certain account actions. If it so easy to lose an account over an incompetent agent why in God's name will I trust your company with a penny of mine?? Terrible and irresponsible practices especially for a "loan company". Your terms are unclear, you don't allow the customer to pay off debt quicker, My account was allowed to make only one payment at a time which made me late. I would prefer to double my payments. The whole experience was horrible and a avenue away from feeling scamish.
Credit Strong, a division of *** would like to apologize for the customer’s experience with our company. We understand their frustrations and are improving our training programs and processes for situations like these. To address the customer’s complaints Credit Strong would like to note the customer requested an ACH payment be made on Saturday April 4, 2020 at 8:26 pm. This is not a business day for the bank. The bank discloses that it may take 2-3 business days to see the payment withdrawn from the customer’s account. The customer called to cancel the payment on Wednesday April 8, 2020. She spoke to a new agent and the agent misunderstood the request to mean close the account. We understand the customer’s frustration and agents tried to assist the customer. The account is now paid in full and will be reported as a paid/current account. The remaining balance in the customer’s savings account is being returned to the customer.
The convoluted application process does not clearly explain the applicable charges in a way a normal consumer could understand. Even as a finance major, I was unable to decipher the information they tried to present. Even if the information was displayed in a way a normal person could understand, I am not sure I would believe that someone could charge interest on money that they do not make accessible. Over the 4 month period that I had this service, I came to learn the APR percentage over this time period exceeded thirty percent.
While chatting with their representatives, they justified the charges with the amortization of the loan. The advertised interest rate 3.45% made me think they would take that amount of my money, not 30%
Credit Strong is a Division of Austin Capital Bank an FDIC
insured bank. As a division of an FDIC insured institution, the bank’s
advertising and Annual Percentage Rate (APR) percentages (interest rates) are
subject to federal and state agency review for accuracy. The Credit Strong APRs
are in fact accurately calculated and provided to individuals opening accounts.
The APRs on Credit Strong accounts range from 3.73% to 13.972%, no APR exceeds
14%. This customer chose a plan with an interest rate of 3.73% and an APR of 3.75%.The Credit Strong website homepage states prominently and
clearly in numbered format that you should choose the plan that is right for
you, make payments, track your progress, and once your loan is repaid your
savings are returned to you. We also provide our customers with an easy to read
payment chart on the website which details the average monthly interest expense
per year and average monthly savings progress for each plan type. The
customer’s interest charges were in the same range as the payment chart
indicated for his loan amount. We have reviewed this customer’s chat transcript
with our customer service agent and cannot find the discussion about the
customer being charged over 30 percent. The customer was charged the advertised
interest rate on the loan.
Complaint: ***
I am rejecting this response because: What loan? I did not receive any money. A loan implies that the funds were available for my consumption. You charged me interest on $25,000 at 3.74% interest for money I never received. you took 30% of the money I gave to you over four months and applied it to interest on money you did not give to me.. Your dodgy response is insulting. You know your on-boarding process is insufficient and does not accurately describe the true cost of the program. At minimum, a true amortization schedule of your monthly payments should be disclosed to clients signing up. You advertise this as a savings vehicle but in reality it is just another monthly bill. Just like your response, you make it appear that you will take 3.74% of my money, when in reality you are taking 3.74% of an amount you created. I do not accept your response!
Regards