I was contacted by a representative of the Premier One company telling me that I was approved for a credit card with a line of credit for $2500.00 It was in May of 2002.
I authorized them to withdraw 174.90 from my bank account on June 12th 2002. Well, they withdrew the funds on the 3rd of June causing about 4 checks to bounce and leaving me stuck with about 120.00 in check fees to my bank and another 25.00 a piece to each of the consumers that the checks had bounced to. For a total of approximately 225.00.
Needless to say I was very mad and contacted them to ask why they had done this. It was then that I spoke with a person that informed me that what I had been told origanally was not the case. The Premier One company was designed to repair your credit by ,get this,the "pay as you go" method. When I asked the CSR what that meant she explained that whenever I made a purchase with their card, my bank account would be charged immediatly for the transaction. In other words their "credit card" was nothing more than a Debit card drawing on my funds from my bank.
When I realized what had happened I told the CSR that I wanted my money back. Luckily, I had recieved the infamous packatte in the mail. I was told to write a "refund" # in the upper corner
of the packatte and mail it back to them and within 14 days,
I would recieve the 174.00 back in my account. I waited 21 days and called back. I was then told that their refund policy had recently changed and it would be 30 days from the date that they recieved my packatte back. According to their computer they got it back on the 19th of August. So on the 19th of September I called back and they assured me that they did not know why my money had not been put back into my account. They would E-mail the Refund dept. and that I needed to allow the refund dept. 14 days to recieve the E-mail.
I don't know about you but My E-mail service does not take 14 days to deliver an E-mail. It is now Oct.29th and I still don't have my money.