• Report: #1139492
Complaint Review:

Magnum Credit Services

  • Submitted: Wed, April 16, 2014
  • Updated: Wed, April 16, 2014

  • Reported By: Monica — escondido California
Magnum Credit Services

Magnum Credit Services Magnum Credit guaranteed a loan. charged a referral fee . was unable to guarantee a loan, refused to refund my money. HOLBROOK New York

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basically came across this website in March. They claim to be able to guarantee a person a loan regardless of credit. They say that they are  a referal company and have been IN BUISNESS awhile. They charge a fee, the fee is based on the amount of money you are requesting. You pay the fee and then they reveal the name of the lender whom they  guaranteed will give you a loan. This is the way the scam is presented but once you send in the money. They write to you and tell you that you must apply with 10 lenders and not one lender. And you must provide proof that you were denied credit or they will not refund your money.

Applying  for a loan with ten lenders one after the other would completely destroy or at least bring ones fico score down a great deal. plus lenders don't like to see that you have been shopping around for a loan and have 10 inquiries on your credit report. Plus they see that no one is lending you any money so applying with 10 lenders one application after the other would be like shotting yourself in the foot.

Magnum credit can not be contact by phone. You must write to this Donald figueroa person . My Point is, that  none of this stuff is upfront. It is revealed to you after they have your money. I still have never recieved my money back. I have emailed and written letter requesting my money back becasue i did apply with 10 lenders and was  denied everytime. I sent to this Donald Figueroa person and  this  David Fitzgerald account representive and they are unethical, refuse to refund me. Beware of businesses inwhich you can not speak to anyone on th epone to resolve your issues. don't ever apply for credit with these people they are only preying on disperate souls.

This report was posted on Ripoff Report on 04/16/2014 07:56 PM and is a permanent record located here: http://www.ripoffreport.com/reports/magnum-credit-services/holbrook-new-york-11741/magnum-credit-services-magnum-credit-guaranteed-a-loan-charged-a-referral-fee-was-unab-1139492. 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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