After hanging up on numerous telemarketing calls offering to reduce the interest rate on my credit cards I decided to hear them outThey appeared to have access to detailed credit reports on my credit cards but they requested a lot of information anyway that apparently they already hadTheir pitch was to pay off two balances totaling $14,and refinance them at 0% interest with a minimum monthly payment of $160.00/mo However, they would open a new credit card for me and charge to it a fee of $2,for their services When the pitch person thought he had made his case I was transferred to a "verification" person who would record the conversation and attempt to get me to agree to the charge When I objected that I would not authorize a charge on the basis of their promises in a mere telephone conversation without them first putting their proposal in writing, the verification person would transfer me back to the pitch person, who would make additional promises, apparently unrecorded, and the process would be repeated, This happened three or more times in the minute conversationIn the last session with the pitch man he mentioned for the first time, that the promised 0% rate was limited to months They had asked me to "verify" acceptance several times previously not having mentioned the month limit on interest reduction, even though to repay $16,at 160/mo is going to take months even at 0% interestThe pitch man then suggested that $400/mo would pay off the $16,in months However, $400/mo is not $160/mo, and even so, with the average balance on the original debt being about $7,over years, the fee of $2,is about $800/year which is equivalent to more than 10% interest, and due in advanceMore than 2/3s of my credit card balances they proposed to pay off was at "only" 10.24% APR The pitch man having revealed the month limit on the lowered rate only after they'd already tried to get my acceptance verification several tries, combined with their refusal to put their proposal in writing up front, did not smell right so I declined acceptance and terminated the conversationThey are highly skilled and sophisticated telemarketers, I give them credit for thatFrom the complaints on this site, I am very glad I did
After hanging up on numerous telemarketing calls offering to reduce the interest rate on my credit cards I decided to hear them out. They appeared to have access to detailed credit reports on my credit cards but they requested a lot of information anyway that apparently they already had. Their pitch was to pay off two balances totaling $14,000 and refinance them at 0% interest with a minimum monthly payment of $160.00/mo. However, they would open a new credit card for me and charge to it a fee of $2,395.00 for their services. When the pitch person thought he had made his case I was transferred to a "verification" person who would record the conversation and attempt to get me to agree to the charge. When I objected that I would not authorize a charge on the basis of their promises in a mere telephone conversation without them first putting their proposal in writing, the verification person would transfer me back to the pitch person, who would make additional promises, apparently unrecorded, and the process would be repeated, This happened three or more times in the 106 minute conversation. In the last session with the pitch man he mentioned for the first time, that the promised 0% rate was limited to 36 months. They had asked me to "verify" acceptance several times previously not having mentioned the 36 month limit on interest reduction, even though to repay $16,000 at 160/mo is going to take 100 months even at 0% interest. The pitch man then suggested that $400/mo would pay off the $16,000 in 40 months. However, $400/mo is not $160/mo, and even so, with the average balance on the original debt being about $7,000 over 3 years, the fee of $2,395 is about $800/year which is equivalent to more than 10% interest, and due in advance. More than 2/3s of my credit card balances they proposed to pay off was at "only" 10.24% APR. The pitch man having revealed the 36 month limit on the lowered rate only after they'd already tried to get my acceptance verification several tries, combined with their refusal to put their proposal in writing up front, did not smell right so I declined acceptance and terminated the conversation. They are highly skilled and sophisticated telemarketers, I give them credit for that. From the complaints on this site, I am very glad I did.
After hanging up on numerous telemarketing calls offering to reduce the interest rate on my credit cards I decided to hear them outThey appeared to have access to detailed credit reports on my credit cards but they requested a lot of information anyway that apparently they already hadTheir pitch was to pay off two balances totaling $14,and refinance them at 0% interest with a minimum monthly payment of $160.00/mo However, they would open a new credit card for me and charge to it a fee of $2,for their services When the pitch person thought he had made his case I was transferred to a "verification" person who would record the conversation and attempt to get me to agree to the charge When I objected that I would not authorize a charge on the basis of their promises in a mere telephone conversation without them first putting their proposal in writing, the verification person would transfer me back to the pitch person, who would make additional promises, apparently unrecorded, and the process would be repeated, This happened three or more times in the minute conversationIn the last session with the pitch man he mentioned for the first time, that the promised 0% rate was limited to months They had asked me to "verify" acceptance several times previously not having mentioned the month limit on interest reduction, even though to repay $16,at 160/mo is going to take months even at 0% interestThe pitch man then suggested that $400/mo would pay off the $16,in months However, $400/mo is not $160/mo, and even so, with the average balance on the original debt being about $7,over years, the fee of $2,is about $800/year which is equivalent to more than 10% interest, and due in advanceMore than 2/3s of my credit card balances they proposed to pay off was at "only" 10.24% APR The pitch man having revealed the month limit on the lowered rate only after they'd already tried to get my acceptance verification several tries, combined with their refusal to put their proposal in writing up front, did not smell right so I declined acceptance and terminated the conversationThey are highly skilled and sophisticated telemarketers, I give them credit for thatFrom the complaints on this site, I am very glad I did
After hanging up on numerous telemarketing calls offering to reduce the interest rate on my credit cards I decided to hear them out. They appeared to have access to detailed credit reports on my credit cards but they requested a lot of information anyway that apparently they already had. Their pitch was to pay off two balances totaling $14,000 and refinance them at 0% interest with a minimum monthly payment of $160.00/mo. However, they would open a new credit card for me and charge to it a fee of $2,395.00 for their services. When the pitch person thought he had made his case I was transferred to a "verification" person who would record the conversation and attempt to get me to agree to the charge. When I objected that I would not authorize a charge on the basis of their promises in a mere telephone conversation without them first putting their proposal in writing, the verification person would transfer me back to the pitch person, who would make additional promises, apparently unrecorded, and the process would be repeated, This happened three or more times in the 106 minute conversation. In the last session with the pitch man he mentioned for the first time, that the promised 0% rate was limited to 36 months. They had asked me to "verify" acceptance several times previously not having mentioned the 36 month limit on interest reduction, even though to repay $16,000 at 160/mo is going to take 100 months even at 0% interest. The pitch man then suggested that $400/mo would pay off the $16,000 in 40 months. However, $400/mo is not $160/mo, and even so, with the average balance on the original debt being about $7,000 over 3 years, the fee of $2,395 is about $800/year which is equivalent to more than 10% interest, and due in advance. More than 2/3s of my credit card balances they proposed to pay off was at "only" 10.24% APR. The pitch man having revealed the 36 month limit on the lowered rate only after they'd already tried to get my acceptance verification several tries, combined with their refusal to put their proposal in writing up front, did not smell right so I declined acceptance and terminated the conversation. They are highly skilled and sophisticated telemarketers, I give them credit for that. From the complaints on this site, I am very glad I did.