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Centennial One Platinum?

Established Member

Centennial One Platinum?

I received an e-mail offer for this card saying I would get an unsecured 7,500 dollar credit line.  It says no credit check and you use your credit to shop in their exclusive network.  Too good to be true?  Or is this something like Crown Jewelers?  Thanks in advance for any help.
Message 1 of 5
4 REPLIES
Established Member

Re: Centennial One Platinum?

After finding out more I see you need to pay them almost 40 dollars a month for this card.  That sounds like a bad idea.

 

Message 2 of 5
Established Contributor

Re: Centennial One Platinum?

In my opinion, this sounds way too good to be true. For questionable offers like this, what I do is fill in the registration information with a bunch of gibberish in order to see if there is any further fine print. Once I did that, *then* Centennial One reveals this (the $ 39.95 that they mention is comprised of a monthly membership fee of $30 plus the monthly maintenance fee of $9.95):



Offer Details: By submitting this order you give Centennial One Platinum Credit authorization to charge your debit or credit card a processing fee of $2.78 for the 7 day trial membership. The $7,500 credit account is for use towards thousands of our merchandise items only. After the 7 day trial, unless you cancel, we will automatically bill the account you provided us today for $39.95, and each month thereafter. All monthly fees will be applied to any outstanding line of credit balance. This charge will appear as debit by "Credit Line" on your statement. You have the right to cancel any time by calling the toll free number provided in the Terms and Conditions.

+You also agree to receive a 15 day FREE trial membership for Grant Connect where you get easy access to free government money. After the 15 day trial, unless you cancel, Grant Connect will charge your account $19.95 each month thereafter. You have the right to cancel any time by calling the toll free number located at grantconnect.com.

As an additional bonus, you will also receive a FREE 10 day trial of Vcomm300 International and Long Distance Calling Service. Unless you cancel, Vcomm300 will bill your account $12.95 for the services each month thereafter. You have the right to cancel anytime by calling the toll free number located at vcomm300.com

Message 3 of 5
Established Contributor

Re: Centennial One Platinum?

Also, the fine print here (link) reveals that you shouldn't count on this account being reported to the three main credit bureaus Equifax, Experian, and Trans Union:


If I have provided the Company with my Social Security Number, the credit line and monthly payments will be reported to PRBC, a national credit bureau and may be reported to any other credit bureau affiliated with Centennial One Platinum, which may enable me to build a credit file and score, based on my history of making payments.


Furthermore, the $ 9.95 monthly maintenance fee is non-refundable:

I may call Customer Service during my 7 day trial to be cancelled and I will not be billed for any further charges. The $2.78 processing fee charged for the 7 day trial is non-refundable. After my trial and if I am not satisfied I can receive a refund of the monthly membership fee. The $9.95 monthly maintenance fee is non-refundable. I may also cancel my membership at any time by calling Customer Service.
Message Edited by MojaveMoon on 12-21-2008 10:00 AM
Message 4 of 5
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Established Contributor

Re: Centennial One Platinum?


GraceK wrote:
I received an e-mail offer for this card saying I would get an unsecured 7,500 dollar credit line.  It says no credit check and you use your credit to shop in their exclusive network.  Too good to be true?  Or is this something like Crown Jewelers?  Thanks in advance for any help.

Do not do this!  Yes, too good to be true unless you like to buy crap merchandise that is way overpriced.

Message 5 of 5