Basically, I saw a video from a guy who does credit stuff recommend Attractive Gems Jewelers. I applied and got approved for a 10K credit line through them last Nov. They normally charge upfront for an account and an ongoing yearly fee (however I had a special promo link that gave me the one time bulk fee and zero fees thereafter). I thought it was awesome because no credit score was required. Sure, the $310 was pretty steep...but having an infinite 10k credit line that is essentially "set and forget" was a miracle for me.
Dec arrives, it shows up on my credit and boosts me like 60 points. I am excited and all is right with the world.
January hits, I notice my credit dips and the account has totally vanished from TransUnion. I call AG and see what's up. They tell me that there are "technical difficulties" and that I'm not alone. They expected it to be resolved within a month. I patiently wait.
February rolls around, now it's off Experian and the account is reported gone. I am livid at this point. I reached out over the past few weeks and have heard nothing back. I stupidly didn't save my e-mails, but I am wondering what I can do to resolve this issue? I guess I can report with my bank, but my hopes aren't too high that I will get a refund because of the lack of paper trail/digital product etc. I'm not happy, but I can live with the harsh lesson of "if something is too good to be true, it definitely is."
I've read some reports of double charges and such by other people. I'd rather be safe, so I'm ordering a replacement bank card. Is there a way I can report this and get it scratched from my credit report without any hard hits? If so, who do I contact about this for the fastest resolution?
Unstated in the post is whether their advertising or actual account agreement promised reporting to any CRA.....
To pursue breach of contract would likely require a showing of a clear meeting of the minds of both parties as to any agreement regarding terms of credit reporting to the CRAs.......
@RobertEG I mean they lay it out pretty clearly. I had the same TOS just with all the fees upfront as that $310 instead of a yearly fee. They say that they will report it monthly to all the creditors and on a repeat basis until the account is closed. I know my payment was confirmed originally (and that the line was added to my credit because nothing else could have caused that ridiculous of +/- to credit).
I didn't do anything to disrupt the account. I've also noticed several comments on said YT video and the reviews of these guys are all pretty grim where I can find them. Who would I report to if I know there's a problem? Do I have to file disputes with each creditor?
I wouldn't be so worried if there was communication...but the account has been added/removed from my credit profile TWICE now (I forgot to mention this). The first time after they responded it "appeared" fixed but now it's not listed again on my account.Its been weeks now and there has been no e-mail response despite multiple e-mails. They also closed off their phone line due to "high-volume of requests" (wonder why...). Doesn't this all seem pretty fishy? Its not really speculation at this point...just frustrating.
I may be missing it, but they say nothing about reporting a line of credit to anyone. They just say they will give you a line of credit for 149.99 and an annual fee of 99.99. But how would/could you dispute not having a line of credit reported? Best bet might be the attorney general in California or the BBB. Good luck!
I don't know, from that link above the biggest take away for me is the section linked below which is literally the largest displayed part of their bullet points. The fact that this is in larger font than anything else and just that it's even written seems sketchy to me:
They are beyond sketchy.
If a lender (I'm using that term loosely here) elects to report, they must report correct information.
I cannot reconcile that with "If something is wrong with your account, and you dispute, we close the account"
You need to cut your loses and close this "account". It's as close to scam and blackmail as one can get. There are plenty of posts about them from roughly 18-24 months ago when they first made appearance around here, use the search function and you'll see what I'm talking about.
This company/scenario is new to me and slightly confusing. So this company charges a fee to open and report a Tradeline to the CRA's and does not do credit checks. Am I understanding this correctly? That would make me nervous right out of the gate for something going sideways.
@Anonymouswell I'm going to dispute, so that will get it closed anyway if this is true. If I report with TransUnion or something will it remove the account from the other creditors as well? I just wish I could get my initial fees back too for them not holding up their end of the bargain, but I guess I'll use it as an expensive credit lesson.
I already did a lengthy report to cfpb.gov.
@paws - I'd also file a report with my State AG if I were you.
You'd do well to screen shot the two pages you've referred to and save the record.
In addition, if you have an option, download and save the YouTube video. You may to file a small claim against this company to recover your monies and evidence would be helpful.