16 April 2009: Jenny from Top Savings Telemarketing contacted me about debt consolidation. She indicated that her company works with 14 Preferred Banks to lower current interest rates on my credit card balances and that the process takes 3 to 5 weeks. Jenny indicated that Top Savings guaranteed I had nothing to lose by signing up since they offered a full refund if I'm declined by three of their preferred banks.
After signing up with Jenny, Jesse contacted me to do a verification and security call for my purchase. He went over the information I provided, with one exception. Jesse indicated that if for any reason, I'm declined by their preferred banks, they will refund me the $549 minus 25% for processing fee.
One week later, I received the package Top Savings sent me. The package included the following:
3-Page Personal Profile questionnaire (mailed back after filling out)
Financial Suite CD
Credit Card and Debt Management Book (140 pages)
Credit Card and Debt Smart, Volume 1 Book (62 pages)
Listing of Top Savings Preferred Banks
27 May 2009: I contacted Top Savings to determine the status of my account. They indicated submitting an application to US Bank and had me contact the bank as to the status of the application. US Bank had no records of any applications made on my behalf. They also indicated that they were submitting another application to another bank.
19 June 2009: I contacted Top Savings again to determine the status of my account since I have not heard anything from Top Savings or their 14 Preferred Banks. I spoke with Susan, who provided me the phone number to Simmons First Bank. She told me to contact Simmons Bank to find out the status of the application Top Savings did for me. At this point, I was simply frustrated and asked what service am I receiving for the $549 I paid Top Savings, if I will be doing all the leg work anyways! Our conversation became heated and Susan passed me to her Supervisor Stephen. Stephen asked what the problem was. I told him the frustration I was having about Top Savings not getting me any results. He told me that I was making it harder than it should be. That Top Savings should start recording our conversation since I did not remember receiving any information about the application to Simmons First Bank. He basically treated me like an IDIOT!
His last comment to me was, You don't like our service then return the Top Savings package for a 50% Refund, then HANGED UP on me. Is this how Professional Service Oriented companies operate?
Why should Top Savings be entitled to half of $549 for the frustration and pain I received? Who got the Savings in this matter? I guarantee, it's not the client
I contacted all the banks Top Savings listed as their preferred banks. Majority of the banks knew nothing about Top Savings. Some of the bank customer service reps indicated that they would NOT provide better interest rates based on a third party company like Top Savings. Every credit card approval still remains with the client's credit rating and FICO score.
Top Savings made it appear they can help their clients get better interest rates. Although, the truth is Top Savings don't add any credibility at all.
This organization is truly a SCAM. These are the types of predatory companies who targets in-debt consumers by having them fall deeper into debt.
S. San Francisco, California