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@Anonymous wrote:I mean, they scammed you just by getting you to pay ridiculous fees to get this sketchy account. But, you don't seem to be mad about that. Instead, the anger seems to be directed at the fact that the scam didn't work out as you wanted it to.
Just playing devil's advocate for a moment: suppose AG reports the account to the CRAs, but the CRAs refuse to acknowledge is as a legitimate tradeline. Who's fault is it now? Is there now a "breach of contract"? Have they done their part by simply reporting the tradeline?
Also, do they specify *which* bureaus? It could be some random, smaller, even unknown bureau(s). That is why it is very important that they spell outwhat you are getting otherwise the fault will likely land on the consumer for lack of due diligence in verifying which bureaus they promised to report to. So they could be reporting, just not who you want them to report to, but they held up their end of the deal, technically.
It appears that the complaints regarding this particular company extend to numerous consumers.
I understand reluctance to bring your own civil action against them, as it can become a substantial time and money issue.
However, a primary function of the Consumer Financial Protection Bureau (CFPB) is to entertain consumer complaints, and when appropriate, bring civil action on their behalf.
Both the CFPB and FTC have been reluctant to take civil action based on each individual consumer complaint, but do maintain a database, and do pursue actions that are either repetitive or involve many consumers.
Your scenario seems to fit the mold for CFPB intervention. I would urge filing a formal complaint with the CFPB with the goal of hopefully getting supportive action on the part of their trained professionals.
So here's what's up..
The fine print is that they only report activity to the 3 bureaus. So opening an account, that's activity. Buying nothing on credit and having a zero balance. Well...
Maybe buy something like an inexpensive watch? And make payments on it. YES you'll be sending them further money, but you should get a watch- so there's that. But once you have a balance and make a minimum payment for 3 months.. it is in there best interest to keep you a happy consumer customer.
If you aren't buying.. they figure you just bought a line of credit and they did the bare minimum for your credit report that was required of them.
Your line of credit should still be open. Use it. You paid for it.
You weren't scammed. The credit bureaus seem to have begun blocking these companies.
And it isnt breach of contract - the contract is the actual application and disclosures, not the marketing materials in their ads or website.
That being said, they're reporting. They're doing what they said. Think about it - they have no reason not to, and their entire business relies on it. The CRAs are just not accepting their updates.
They may be "on to them", or it may just be technical issues they're having difficulties solving. I'm a software engineering manager for a fintech - it could certainly happen to a small company with limited resources.
Lol I like you!!!!! I signed up with them and found them the same way. However, my intention was to test their service prior to presenting it to my clients. After doing my research it was clear they couldn't be trusted. Therefore, I saved all emails and took screen shots when I signed up.
Fortunately, per their own correspondence and details on their website, this is a breach of contract. Additionally, there can be serious legal consequences; accepting payments and offering services knowing part of what they promote will not continue or may never start. And relying on the argument that is not in their control does not negate their liability. It brings to question are their business practices ethical. I think it would be interesting make a cry to the public to all who have been scammed by this company and take legal action... Their site is still operating.
@RobertEG wrote: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.......
It is listed on their website. You have to look, and they note it on the receipt.
Nice!!!!...
Lastly, since they did not specify which bureau and it would be reasonable to assume "bureaus" meant more than one and most likely the major 3. A. their solicitation was intentionally deceitful and unethical or B. they reported to some other smaller bureaus and should have no problem providing proof...
I won't hold my breath.
This is wrong on so many levels. Any known company who reports to a bureau will report the credit whether there is a balance or not. Also, there was no fine print that indicated anything needed to be purchased. If they figure a membership was taken just for a credit line then they should change their terms and conditions... "Funny you say minimum payment for 3 months and buy something inexpensive like a watch, but also mentioned here's the fine print"...
Clearly you're an employee, if you read the fine print and went their website you would know there are no cheap watches or fine print.
Correct! My confirmation from them states that specifically, and how long it will take. Oh and just in case that wasn't enought, I emailed them again to inquire about it just to have additional and up to date written proof.