- Report: #45158
Report - Rebuttal - Arbitrate
Complaint Review: NCAS Preferred Merchants Membership Card
NCAS Preferred Merchants Membership CardP.O. Box 41127 St Petersburg, Florida U.S.A.
NCAS Preferred Merchants Membership Card ripoff Credit Card Scam, Credit Rebuilding Fraud, St Petersburg Florida
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(Impression given, I would receive a Mater Card with a $2500.00 Limit)
They stated that this would be an opportunity to rebuild my credit. They said they would be entering a monthly report to the different credit agencies, so if I paid my account on time it would repair my credit rating within 6 months to a year.
They required a $200.00 dollar deposit to open the account (explaination given to me, was that since I was a high credit risk they needed to verify that I was capable of making a payment of at least $200.00), and they assured me that I would receive two $100.00 credit vouchers which I could then use to make payments on my accout whenever I wanted to including my first charge which I was told Icould be a cash withdrawl from an ATM. (They specifically told me that I could take a $200.00 cash withdrawl immediately after receiving my card and then I could use the two $100.00 credit vouchers as paymet to them for the cash withdrwal with NO service fee or interest rate charged to my account, provided I pay them within the 25 day grace period.)
I specifically asked them if there would be any monthly or annual charges for this account and I was told flat out "NO There are no monthly or annual fees for this account". Yesterday, I received a statement for $33.00 which will be withdrawn from my account in March, no it is not a monthly or annual service fee; it is instead called a "Quarterly Access Fee" ABSOLUTE FRAUD. They did not technically lie to me but they did everything they could to deceive me. If I had known that there was any fee for this account, I would NEVER have accepted this offer.
I agreed to let them take the $200.00 assuming I would be reveiving a "National Credit Card" which I could use anywhre for any purchase. I waited and waited and never received my "membership package". Five weeks after they had taken the $200.00 from my account I received the membership package.
In this package they stated that I could cancel the account only within 30 days making the first paymernt of $200.00 they purposfully made sure I did not receive the package until after this 30 day period had elapsed. So it was technically too late to cancel the account for a full refund. I would have cancelled the account immediately if I had received the membership package within that 30 day period.
As I read the catalog I discovered that with each purchase you had to send in a percentage of real cash . The 2500 limit is not equal to $2500 in real money. It a percentage. The card was good only for purchases made from the catalogs which were included in the membership package (Products on average, worth less than 1/3 (one third) the listed Catalog Price) (example a Mechanics tool kit, which sells at Wal-Mart for a retail price of $49.00 and is often sale priced at around $39.00 is priced in their catalog at $249.00). and I was required to pay a 35% cash deposit (or $87.15 + Shipping around $25.00) or about $275.00 including the Crediot Vouchers which I already paid for for this $39.00 tool kit). Since I have to Pay 35% cash for every purchase I am basically paying full price for the item plus 200% extra for every item I buy. Obviously I wont buy anything and I am sure they don't expect me too, they just wanted my $200.00 up front cash. The vouchers are worthless unless you agree to purchase an additinonal $300.00 + dollars worth of junk from their catalog.
I plan to vist my bank to see if there is any way to have my money refunded and charged back from this company I suspect that it will be difficult but I at least want to warn others not to fall prey to this scam.
I am also very interested in joining a class action law Suit if anyone is aware of one which has been filed in Florida against this compnay, please contact me so I can join them in this suit which will hopefully put them out of business.
Heber City, Utah
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This report was posted on Ripoff Report on 02/12/2003 11:58 AM and is a permanent record located here: http://www.ripoffreport.com/r/NCAS-Preferred-Merchants-Membership-Card/St-Petersburg-Florida-33743/NCAS-Preferred-Merchants-Membership-Card-ripoff-Credit-Card-Scam-Credit-Rebuilding-Fraud-45158. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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